Crane Inc. is a publicly traded company that uses straight-line depreciation and the revaluation method....
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Crane Inc. is a publicly traded company that uses straightline depreciation and the revaluation method. Crane purchased a building on May for $ The building is expected to have a year useful life with no residual value. Crane applies the asset adjustment method to the building at the December year end. The building's fair value is $ What is the revaluation surplus or loss? $ loss $ loss $ $ surplus On April Crane Limited sold some equipment for $ cash. The original cost on January was $ Accumulated depreciation at December the company's year end was $ The equipment was being depreciated over years on a straightline basis with no residual value. What is the gain or loss on sale of the equipment? $ loss $ gain $ loss $ gain 
Crane Inc. is a publicly traded company that uses straightline depreciation and the revaluation method. Crane purchased a building on
May for $ The building is expected to have a year useful life with no residual value. Crane applies the asset
adjustment method to the building at the December year end. The building's fair value is $ What is the revaluation
surplus or loss?
$ loss $ loss $ $ surplus
On April Crane Limited sold some equipment for $ cash. The original cost on January was $
Accumulated depreciation at December the company's year end was $ The equipment was being depreciated over
years on a straightline basis with no residual value. What is the gain or loss on sale of the equipment?
$ loss
$ gain
$ loss
$ gain
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