Question
Joe Ltd made an upward revaluation of its plant to fair value, which resulted in an after-tax increase of $5,000 in Joe Ltds asset revaluation
Joe Ltd made an upward revaluation of its plant to fair value, which resulted in an after-tax increase of $5,000 in Joe Ltds asset revaluation reserve.
Question: What is the correct journal entry for this assuming 30% tax rate?
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Cost-Benefit Analysis
Authors: E.J. Mishan, Euston Quah
6th Edition
1138492752, 978-1138492752
