Consider the following information at the reporting date in relation to an item of Plant and equipment
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Question:
Consider the following information at the reporting date in relation to an item of Plant and equipment carried under the revaluation model:
Cost $691 million
Carrying amount $494 million
Fair value $508 million
Value-in-use $519 million
State, to the nearest million dollars, the carrying amount at which the Plant and equipment would be reported.
Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
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