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  3. part c: the fair value of the equipment at dec. 31

part c: The fair value of the equipment at Dec. 31, 2026 is $6,324,000. Prepare...

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Accounting

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part c:

The fair value of the equipment at Dec. 31, 2026 is $6,324,000. Prepare the journal entry (if any) necessary to record this increase in fair value.

Current Attempt in Progress Presented below is information related to equipment owned by Splish Company at Decamber 31,2025. Assume that Splish will continue to use this asset in the future. Bs of December 31,2025 , the equipment has aremaining useful life of 5 years. (a) Prepare the joumal entry [if any) to record the impairment of the asset at December 31,2025 . (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry) Llst of Bcccounts Attempts: 0 of 3 used (b) Prapara the journal entry to racord depreciation axpanse for 2026 . (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manuallk. List debit entry before credit entry.)

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