AYN 418 Exam Question - Aaron Ltd .

AYN 418 Exam Question - Aaron Ltd .

Question # 00075027 Posted By: expert-mustang Updated on: 06/10/2015 01:37 AM Due on: 06/10/2015
Subject Accounting Topic Accounting Tutorials:
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On 1 July 2011, Aaron Ltd purchased equipment for $4,000,000. The company uses the revaluation model to account for equipment and depreciates it over its estimated useful life of 4 years using the straight line method with a zero residual. Indicators of impairment and/or reversal of impairment existed at 30 June 2012, 2013 and 2014.

The information below shows the asset values at various dates.

Prepare general journal entries to account the equipment from 1 July 2011 to 30 June 2014 in accordance with the requirements of AASB 116 and AASB 136.

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  1. expert-mustang
    Tutorial # 00069742 Posted By: expert-mustang Posted on: 06/10/2015 01:37 AM
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    than value in use of $ 2950000 30...
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