On 30 June 2022, equipment with a cost of $500,000 and accumulated depreciation to date of $375,000

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On 30 June 2022, equipment with a cost of $500,000 and accumulated depreciation to date of $375,000 is revalued to $186,000.

Required: Assuming a tax rate of 30%, prepare journals entries for the revaluation on 30 June 2022. (workings must be shown)

Related Book For answer-question

Basic Statistics for Business and Economics

ISBN: 978-0073521473

8th edition

Authors: Douglas Lind, William Marchal, Samuel Wathen

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Posted Date: Aug 19, 2020 12:31 AM

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On 30 June 2022, equipment with a cost of $500,000 and accumulated depreciation to date of $375,000

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Particulars amount amount Depreciation expense 375000 ... View the full answer

Basic Statistics for Business and Economics

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