10-30-2009, 03:05 AM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by kashif187</i>
<br />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
Required 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
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<br />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
Required 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
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