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Dana company accounted for noncurrent assets using the cost model. on October 1, 2020, the entity classified an equipment as held for sale.
Problem 1. What amount should be recognized as an impairment loss for 2020?
Problem 2. What amount should be included as revaluation surplus in Dana's Statement of Comprehensive Income at year end?
a. 1,000,000b. 1,200,000c. 1,350,000d. 0
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