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Robertson Inc. prepares its financial statements according to International Financial Reporting Standards. At the end of its 2011 fiscal year, the company chooses to revalue its equipment. The equipment cost $540,000, had accumulated depreciation of $240,000 at the end of the year after recording annual depreciation, and had a fair value of $330,000. After the revaluation, what will the accumulated depreciation account have a balance of ?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M972110

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