Business, 22.07.2021 14:00 seasmarie75
In the 30 June 2014 annual report of Sonner Ltd, the equipment A was reported as follows:
Equipment A (at cost)
Accumulated Depreciation
Estimated useful life
Sonner Ltd measure the equipment by the revaluation model. This has resulted in the recognition in previous periods of an asset revaluation surplus for the equipment of $20 000. At 30 June 2014, Equipment A was revalued to $ 500,000.
Required : Prepare the journal entries to revalue the equipment A at 30 June 2014. (Apply both method)
(400 000)
600 000
10 years
Answers: 2
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In the 30 June 2014 annual report of Sonner Ltd, the equipment A was reported as follows:
Equipment...
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