Entity A has identified indications that its plant is impaired. The plant has a carrying amount of ₱56,000,000. An independent valuer determined the following: • Replacement cost of the plant ₱90,000,000 • Actual life 15 years • Effective life 25 years • Remaining economic life 20 years Entity A's tax rate is 30%. How much is the revaluation surplus, net of tax?
Entity A has identified indications that its plant is impaired. The plant has a carrying amount of ₱56,000,000. An independent valuer determined the following: • Replacement cost of the plant ₱90,000,000 • Actual life 15 years • Effective life 25 years • Remaining economic life 20 years Entity A's tax rate is 30%. How much is the revaluation surplus, net of tax?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Entity A has identified indications that its plant is impaired. The
plant has a carrying amount of ₱56,000,000. An independent valuer determined the following:
• Replacement cost of the plant ₱90,000,000
• Actual life 15 years
• Effective life 25 years
• Remaining economic life 20 years
Entity A's tax rate is 30%.
How much is the revaluation surplus, net of tax?
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