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the question but two photos Time left ABC Company uses revaluation accounting for a class of equipment it uses in its business. The equipment was
the question but two photos
Time left ABC Company uses revaluation accounting for a class of equipment it uses in its business. The equipment was purchased on January 2019, for $500,000; it had a 10 year useful life with no residual value. ABC uses the straight-line depreciation method to account forth type of equipment. At the end of 2019, after all depreciation has been recorded, the fair value of the equipment is appraised at $468, Prepare all of the entries relevant to this equipment assuming the company uses IFRS and the revaluation method to account for its fixe assets. January 2, 2019 (Record the Purchase) Account Dr/CR Amount Choose Choose... Choose Choose December 31, 2019 (Record Annual Depreciation) Account Dr/CR Amount Choose. Choose Choose... Choose December 31, 2019 (Record Revaluation) Account Dr/Cr Amount Choose Choose Choose Choose Progreh on 2 Time left 1:02:01 ABC Company uses revaluation accounting for a class of equipment it uses in its business. The equipment was purchased on January 2, 2019, for $500,000, it had a 10 year useful life with no residual value. ABC uses the straight-line depreciation method to account for this type of equipment. At the end of 2019, after all depreciation has been recorded the fair value of the equipment is appraised at $468,000. Prepare all of the entries relevant to this equipment assuming the company uses IFRS and the revaluation method to account for its fixed ed I out of assets. Question January 2, 2019 (Record the Purchase) Account Dr/CR Amount Choose . Choose.. Choose Choose December 31, 2019 (Record Annual Depreciation) Account Dr/CR Amount Choose Choose. + Choose Choose December 31, 2019 (Record Revaluation) Account Dr/Cr Amount Choose Choose Choose Step by Step Solution
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