In the 30 June 2021 annual report of ABC Ltd reported the following: Land (at cost)...
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In the 30 June 2021 annual report of ABC Ltd reported the following: Land (at cost) 200,000 Land is measured using the cost model. At 30 June 2021, Land was assessed to have a fair value of $210 000. At 30 June 2022, Land was assessed to have a fair value of $ 180 000. Required Prepare the land revaluation journal entries for the period ended on 30 June 2021 and 30 June 2022. (Please ignore the tax effect.) In the 30 June 2021 annual report of ABC Ltd reported the following: Land (at cost) 200,000 Land is measured using the cost model. At 30 June 2021, Land was assessed to have a fair value of $210 000. At 30 June 2022, Land was assessed to have a fair value of $ 180 000. Required Prepare the land revaluation journal entries for the period ended on 30 June 2021 and 30 June 2022. (Please ignore the tax effect.)
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Related Book For
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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