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PLZ ANSWER ASAP Brandi Ltd acquired a piece of equipment worth $150 000 on 31St December 2020. The equipment has a useful hfe of five

PLZ ANSWER ASAP

Brandi Ltd acquired a piece of equipment worth $150 000 on 31St December 2020. The equipment has a useful hfe of five (5) years. On 30th June 2022, Brandi Ltd adopted the revaluation model and the determine the fair value of the equipment to be $115 000. Financial year end is 30 June each year. Required: Provide the Journal entries for recognising the revaluation of the equipment in the books of Brandi Ltd. Ignore tax effect.

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