14. On January 1, 2020, DAHLIA Company showed land with a carrying amount of P10,000,000 and building with cost of P60,000,000 and accumulated depreciation of P18,000,000. The land and building were revalued on the same date and revealed the fair value of land at P15,000,000 and building at P70,000,000. The original useful life of the building is 20 years and depreciation is computed on the straight line. What is the revaluation surplus on December 31, 2020? O P 33,000,000 O P 30,642,857 O P11,500,000 O P 31,000,000 O P11,142,857
14. On January 1, 2020, DAHLIA Company showed land with a carrying amount of P10,000,000 and building with cost of P60,000,000 and accumulated depreciation of P18,000,000. The land and building were revalued on the same date and revealed the fair value of land at P15,000,000 and building at P70,000,000. The original useful life of the building is 20 years and depreciation is computed on the straight line. What is the revaluation surplus on December 31, 2020? O P 33,000,000 O P 30,642,857 O P11,500,000 O P 31,000,000 O P11,142,857
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:14. On January 1, 2020, DAHLIA Company showed land with a carrying
amount of P10,000,000 and building with cost of P60,000,000 and
accumulated depreciation of P18,000,000. The land and building were
revalued on the same date and revealed the fair value of land at
P15,000,000 and building at P70,000,000. The original useful life of the
building is 20 years and depreciation is computed on the straight line.
What is the revaluation surplus on December 31, 2020? *
P 33,000,000
O P 30,642,857
O P11,500,000
P 31,000,000
O P11,142,857
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