Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a company has a building that costs 10 million tl,

A company has a building that costs 10 million TL, has a useful life of...

60.1K

Verified Solution

Question

Accounting

A company has a building that costs 10 million TL, has a useful life of 10 years and has been in use for 4 years. Straight line method of depreciation is employed. The company employs revaluation model for the building. The fair value of the building is determined as 8 million TL. Which one of the following journal entries may not be true for recording this transaction?
PPE may be credited by 2 million TL
Revaluation OCI may be credited by 3,3 million TL
Accumulated depreciation may be credited by 1,3 million TL
Accumulated depreciation may be debited by 4 million TL

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

What is FinTech? Give some examples. Is the U.S. ahead or behind in the FinTech revolution....

Finance
Q

What would be the difference in reactivity if ethyl 3-methylbenzoate was treated in a reduction with...

Chemistry
Q

A wheel with a weight of 395 N comes off a moving truck and rolls without...

Physics
Q

In this assignment, you will compare how two companies, within the same industry (Walmart and Amazon)...

Operations Management
Q

Hi-Tek Manufacturing, Inc., makes two types of industrial component parts—the B300 and the T500. An absorption...

Accounting
Q

What is the difference between a primary immune response initial exposure to an antigen and...

Biology
Q

The force exerted by the floor of an elevator on the foot of a person...

Physics
Q

5 12 points Solve the homogeneous linear system corresponding to the coefficient matrix A 27...

Basic Math
Q

Enter the expression which represents In k 2 In 7r as a single logarithm 1...

Calculus
Q

Affordable Electronics Inc. manufactures medium-quality, reasonably priced wireless speakers for home use. The company uses...

Accounting
Q

Fadeley, Inc. uses activity-based costing to account for its chrome bumper manufacturing process. Company managers...

Accounting
Q

Why according to dividend irrelevance argument, the firm value depends on only optimal investment policy...

Finance