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The information that follows relates to equipment owned by Buffalo Limited at December 3 1 , 2 0 2 3 : Assume that Buffalo will
The information that follows relates to equipment owned by Buffalo Limited at December : Assume that Buffalo will continue to use this asset in the future. As at December the equipment has a remaining useful life of four years. Buffalo uses the straightline method of depreciation. Assume that Buffalo is a private company that follows ASPE. a b c The equipment's fair value at December is $ million. Prepare the journal entry, if any, to record the increase in fair value. 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 for the amounts. List debit entry before credit entry. Date
The information that follows relates to equipment owned by Buffalo Limited at December :
Assume that Buffalo will continue to use this asset in the future. As at December the equipment has a
remaining useful life of four years. Buffalo uses the straightline method of depreciation. Assume that Buffalo is a
private company that follows ASPE.
a
b
c
The equipment's fair value at December is $ million. Prepare the journal entry, if any, to record the
increase in fair value. 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 for the amounts. List debit entry before credit entry.
Date
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