List of Accounts:

Accounts Payable Accounts Receivable Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Accumulated Depreciation - Leasehold Improvements Accumulated Depreciation - Machinery Accumulated Depreciation - Trucks Advertising Expense Asset Retirement Obligation Buildings Cash Common Shares Contributed Surplus Cost of Goods Sold Deferred Revenue - Government Grants Depreciation Expense Donation Revenue Equipment Finance Expense Finance Revenue Gain in Value of Investment Property Gain on Disposal of Building Gain on Disposal of Equipment Gain on Disposal of Machinery Gain on Disposal of Truck Gain on Sale of Land GST Payable GST Receivable Interest Expense Interest Income Interest Payable Interest Receivable Inventory Investment Property Land Land Improvements Legal Expense Loss in Value of Investment Property Loss on Disposal of Building Loss on Disposal of Equipment Loss on Disposal of Land Loss on Disposal of Machinery Loss on Disposal of Truck Machinery Maintenance and Repairs Expense Mineral Resources Mortgage Payable No Entry Notes Payable Notes Receivable Office Expense Owner's Drawings Prepaid Expenses Prepaid Insurance Profit on Construction Purchase Discounts Purchase Returns and Allowances Rent Expense Revaluation Gain or Loss Revaluation Surplus (OCI) Revenue - Government Grants Salaries and Wages Expense Salaries and Wages Payable Sales Revenue Service Revenue Supplies Supplies Expense Tenant Deposits Liability Trucks

* Question 6 Nash Corporation purchased a delivery truck in early January 2016. The truck cost $66,600, and was to be depreciated over 6 years, assuming no residual value. Nash decided to account for this truck using the revaluation model, with the truck to be revalued every two years. The truck's fair value at the end of 2017 was $49,100 Prepare the journal entries to revalue the truck on December 31, 2017 assuming Nash uses the asset adjustment method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 (To adjust depreciation on truck.) Dec. 31 (To adjust truck.)