On July $1,2023,$ Pronghorn Ltd$.,$ a publicly listed company, acquired assets from Culver Ltd$.$ On the transaction date, a reliable, independent valuator assessed the fair values of these assets as follows: The buildings are owned by the company, and the land that the buildings are situated on is owned by the local municipality and is provided free of charge to the owner of the buildings to encourage local employment. In exchange for the acquisition of these assets, Pronghorn issued $145,840$ common shares. Pronghorn's shares are thinly traded $($that is$,$ traded in relatively low volume leading to more volatile price changes than most public companies$).$ In the most recent sale of Pronghorn's shares on the Toronto Stock Exchange, $840$ shares were sold for $\backslash (\backslash$$ $5\backslash )$ per share. At the time of acquisition, both buildings were considered to have an expected remaining useful life of $10$ years, the machinery in building $\backslash (\backslash$# $1\backslash )$ was expected to have a remaining useful life of $3$ years, and the machinery in building $\backslash$#$2$ was expected to have a useful life of $9$ years. Pronghorn uses straight$-$line depreciation with no residual values. At December $31,2023,$ Pronghorn's fiscal year end, Pronghorn recorded the correct depreciation amounts for the six months that the assets were in use. An independent appraisal concluded that the assets had the following fair values: At December $31,2024,$ Pronghorn once again retained an independent appraiser and determined that the fair value of the assets was:

Dec. $31,2024$

$($To record depreciation on Building $\backslash$#$1)$

Dec. $31,2024$

Dec. $31,2024$

Dec. $31,2024$

Dec. $31,2024$

Dec. $31,2024$

Accumulated Depreciation $-$ Building $2$

$($To record depreciation on Building $\backslash$#$2)$

$($To record depreciation on Machinery in Building $\backslash$#$1)$

$($To record depreciation on Machinery in Building $\backslash$#$2)$

$[]$

$($To revalue manufacturing plant $-($Building $\backslash$#$1))$

Revaluation Gain or Loss

$($To revalue storage warehouse $-($Building $\backslash$#$2))$ Accumulated Depreciation $-$ Building $1$

Accumulated Depreciation $-$ Building $2$

Accumulated Depreciation $-$ Machinery $1$

Accumulated Depreciation $-$ Machinery $2$

Building $1$

Building $2$

Common Shares

Depreciation Expense

Machinery $1$

Machinery $2$

No Entry

Revaluation Gain or Loss

Revaluation Surplus $($OCI$)$