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On April 30, 2020, Doufar Corporation purchased equipment for OR360,000. The equipment is expected to have a six-year useful life with no residual value. Doufar
On April 30, 2020, Doufar Corporation purchased equipment for OR360,000. The equipment is expected to have a six-year useful life with no residual value. Doufar uses the straight-line depreciation method for all equipment. On December 31, 2020, Doufar were chooses to revalue the equipment to its fair value of OR320,000. Required Depreciation for 2020 would be: OR The Equipment after revaluation would be OR (1 marks) The Accumulated depreciation after revaluation would be:OR (1 marks) The Revaluation surplus after revaluation would be: OR
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