10-20-2009, 07:07 PM
Corvette the leading car manufacturing company acquired a machine for Rs.125,000 on Jan 1, 2004 estimated life was 8 years. Depreciation is charged on straight line method. On Jan 1, 2009 the machine was revalued at Rs.70,000.Apart from recording revaluation entry, no other entries have been passed
<b>Required</b> Calculate the value of depreciation expense and pass journal entry in accordance with IAS-16
Calculate the value of revaluation surplus and pass journal entry in accordance with IAS-16
<b>Required</b> Calculate the value of depreciation expense and pass journal entry in accordance with IAS-16
Calculate the value of revaluation surplus and pass journal entry in accordance with IAS-16
