On 1 July 2019, Yellow Ltd paid $130,000 cash to acquire a machine. On this date it

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On 1 July 2019, Yellow Ltd paid $130,000 cash to acquire a machine. On this date it was estimated that the machine had a useful life of five years and a residual value of $10,000. In accordance with AASB 116 Property, Plant and Equipment, Yellow Ltd uses the revaluation model as its accounting policy to measure items of property, plant and equipment and the straight-line method of depreciation. Yellow Ltd has a 30 June reporting date.

An independent valuer provided the following fair values for the machine:

Posted Date: May 18, 2024 11:03 AM

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On 1 July 2019, Yellow Ltd paid $130,000 cash to acquire a machine. On this date it

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