Sunland Corp. owns equipment that originally cost $100000. At December 31,2023, the equipment's carrying value...
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Sunland Corp. owns equipment that originally cost $ At December the equipment's carrying value after depreciation was recorded is $ It is determined that the fair value of the equipment at this date is $ Although Sunland's policy is to apply the revaluation model using the proportionate method, this is the first time the company has done it The adjusting entry to record the revaluation will include a debit to Accumulated Depreciation of $ credit to Equipment of $ debit to Revaluation Surplus OCI of $ O credit to Revaluation Surplus OCI of $
Sunland Corp. owns equipment that originally cost $ At December the equipment's carrying value after depreciation was recorded is $ It is determined that the fair value of the equipment at this date is $ Although Sunland's policy is to apply the revaluation model using the proportionate method, this is the first time the company has done it The adjusting entry to record the revaluation will include a
debit to Accumulated Depreciation of $
credit to Equipment of $
debit to Revaluation Surplus OCI of $
O credit to Revaluation Surplus OCI of $
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