A Machine Purchased by White Ltd Had a Cost of $670,000

question 22

Multiple Choice

A machine purchased by White Ltd had a cost of $670,000 and an accumulated depreciation balance of $120,000 at 30 June 2002.Its fair value is assessed at this time,with its first revaluation as $450,000.What is/are the appropriate journal entry(ies) to record the revaluation?

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Definitions:

Liver Disease

A broad term for any disorder or condition that causes the liver to function improperly or stop functioning.

Carpal Tunnel Syndrome

A condition causing pain, numbness, and weakness in the hand and arm due to pressure on the median nerve in the wrist.

Bladder Cancer

A type of cancer that begins in the cells of the bladder, the organ that stores urine.

Liver Disease

A broad term encompassing a range of conditions affecting the liver that impair its ability to function properly.