Question
On 30 June 2022, equipment with a cost of $500,000 and accumulated depreciation to date of $375,000 is revalued to $186,000. Required: Assuming a tax
On 30 June 2022, equipment with a cost of $500,000 and accumulated depreciation to date of $375,000 is revalued to $186,000.
Required: Assuming a tax rate of 30%, prepare journals entries for the revaluation on 30 June 2022. (workings must be shown)
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Particulars amount amount Depreciation expense 375000 ...
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Basic Statistics For Business And Economics
Authors: Douglas Lind, William Marchal, Samuel Wathen
8th Edition
73521477, 978-0073521473
