Accumulated depreciation 3. What is the revaluation surplus on December 31, 2020? following account balances relating to property, plant and On January 1, 2020, Plausible Company reported the Problem 29-8 (IAA) Assets have been carried at cost since acquisition. All assets Problem 29-8 (IAA) equipment: Land Building Accumulated depreciation 2,000,000 15,000,000 3,750,000 3,000,000 1,500,000 Machinery acquired on January 1, 2010. The straight line method is were used. On January 1, 2020, the entity decided to revalue the property, plant and equipment. On such date, competent appraisers submitted the following: Replacement cost Land Building Machinery 5,000,000 25,000,000 5,000,000 1. What is the revaluation surplus on January 1, 2020? 15,000,000 b. 11,500,000 г. 30,000,000 d. C. 8,500,000 2. What is the depreciation for 2020? a. 531,250 b. 875,000 c. 525,000 d. 625,000 a. 11,075,000 b. 11,150,000 C. 11,050,000 d. 10,850,000 853

Accumulated depreciation 3. What is the revaluation surplus on December 31, 2020? following account balances relating to property, plant and On January 1, 2020, Plausible Company reported the Problem 29-8 (IAA) Assets have been carried at cost since acquisition. All assets Problem 29-8 (IAA) equipment: Land Building Accumulated depreciation 2,000,000 15,000,000 3,750,000 3,000,000 1,500,000 Machinery acquired on January 1, 2010. The straight line method is were used. On January 1, 2020, the entity decided to revalue the property, plant and equipment. On such date, competent appraisers submitted the following: Replacement cost Land Building Machinery 5,000,000 25,000,000 5,000,000 1. What is the revaluation surplus on January 1, 2020? 15,000,000 b. 11,500,000 г. 30,000,000 d. C. 8,500,000 2. What is the depreciation for 2020? a. 531,250 b. 875,000 c. 525,000 d. 625,000 a. 11,075,000 b. 11,150,000 C. 11,050,000 d. 10,850,000 853

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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