Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a ltd decided to use revaluation method. equipment

A Ltd decided to use revaluation method. Equipment Perrchased on Jan 1, 20x1, cost $115,000....

70.2K

Verified Solution

Question

Accounting

image

A Ltd decided to use revaluation method. Equipment Perrchased on Jan 1, 20x1, cost $115,000. 10 yr. useful life with zero residual value It applies Straight time Depreciation. A uses elimination method for revaluation model. Far value of the machine was $110,000 as of Du 31,20x1. four value model. (a) Prepare I/E for the year 20x'. model and 61 What are the differences betresare "Revaluation elet (C) Com A Ltd. elent to use Fair value model for the equipment What type of assets can be valued using fair value Mode

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students