Mathematics, 24.11.2021 14:00 potato3999
In the 01 July 2016, Samsung Ltd acquired the machine A by $1,502,000. Estimated useful life is 10 years, estimated residual value is $2,000. Company uses straight-line method for depreciation. From 2019, Samsung Ltd measure the machine A by the revaluation model. At 30 June 2019, machine A was revalued to $ 1,400,000. After one year, at 30 June 2020, machine A was revalued to $1,000,000. At 30 June 2021, machine A was revalued to $1,500,000. Required: Prepare the journal entries from 01 July 2016 to 30 June 2021. (using both method for revaluation)
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In the 01 July 2016, Samsung Ltd acquired the machine A by $1,502,000. Estimated useful life is 10 y...
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