A company has a building that costs 10 million TL, has a useful life of...
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A company has a building that costs 10 million TL, has a useful life of 10 years and has been in use for 4 years. Straight line method of depreciation is employed. The company employs revaluation model for the building. The fair value of the building is determined as 8 million TL. Which one of the following journal entries may not be true for recording this transaction? PPE may be credited by 2 million TL Revaluation OCI may be credited by 3,3 million TL Accumulated depreciation may be credited by 1,3 million TL Accumulated depreciation may be debited by 4 million TL
A company has a building that costs 10 million TL, has a useful life of 10 years and has been in use for 4 years. Straight line method of depreciation is employed. The company employs revaluation model for the building. The fair value of the building is determined as 8 million TL. Which one of the following journal entries may not be true for recording this transaction?
PPE may be credited by 2 million TL
Revaluation OCI may be credited by 3,3 million TL
Accumulated depreciation may be credited by 1,3 million TL
Accumulated depreciation may be debited by 4 million TL
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