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On January 1, 2018, Aylmer Inc purchased a piece of equipment. The equipment is expected to produce 25,000 units over it's useful life. The equipment
On January 1, 2018, Aylmer Inc purchased a piece of equipment. The equipment is expected to | |||||||
produce 25,000 units over it's useful life. The equipment cost $520,000. | |||||||
Units produced: | Other IMPORTANT information: | ||||||
2018 | 3000 | Fair value at: | |||||
2019 | 3200 | 31-Dec-20 | $ 306,500 | ||||
2020 | 3800 | ||||||
2021 | 4300 | Balance in Revaluation Surplus: | $ 1,375 | ||||
2022 | 3700 | ||||||
2023 | 3600 | ||||||
2024 | 3600 | ||||||
REQUIRED: | |||||||
Prepare all necessary journal entries at: | |||||||
01-Jan-18 | |||||||
31-Dec-18 | |||||||
31-Dec-19 | |||||||
31-Dec-20 | The units each year is posted. This is the only information in the question. |
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