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Question 13 On 1 July 2018. Properties Ltd purchased a building of executive lices for...

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Question 13 On 1 July 2018. Properties Ltd purchased a building of executive lices for a 5.000.000 an estimated residual value of Srl. The entity's reporting period ends and de the depreciation rate of the straight-line method of depreciation On 1 July 2019. Properties Ltd revalued the building upwards to reflect the value of $5.500.000 estimated at Snil. On 31 December 2019 as a consequence of an economic recession the net selling price of the buwan. $4,900,000. On 1 January 2020, Properties Ltd sold the building for $4,800,000. Required Prepare the following journal entries (assuming no GST): a. Journal entries for the acquisition of the building on 1 July 2018. b. Journal entries on 30 June 2019 for the depreciation expense. C. journal entries on 1 July 2019 for the revaluation of the building, d. Journal entry on 31 December 2019 for the impairment of the building, e. Journal entries on 1 January 2020 for the sale of the building, Support-LogMeIn....exe BI DD Question 13 On 1 July 2018. Properties Ltd purchased a building of executive lices for a 5.000.000 an estimated residual value of Srl. The entity's reporting period ends and de the depreciation rate of the straight-line method of depreciation On 1 July 2019. Properties Ltd revalued the building upwards to reflect the value of $5.500.000 estimated at Snil. On 31 December 2019 as a consequence of an economic recession the net selling price of the buwan. $4,900,000. On 1 January 2020, Properties Ltd sold the building for $4,800,000. Required Prepare the following journal entries (assuming no GST): a. Journal entries for the acquisition of the building on 1 July 2018. b. Journal entries on 30 June 2019 for the depreciation expense. C. journal entries on 1 July 2019 for the revaluation of the building, d. Journal entry on 31 December 2019 for the impairment of the building, e. Journal entries on 1 January 2020 for the sale of the building, Support-LogMeIn....exe BI DD

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