Requirements:HOW MUCH IS THE REVALUATION SURPLUS ON THE YEAR OF REVALUATION? HOW MUCH IS THE GAIN OR LOSS IF THE BLDG IS SOLD FOR P8MILLION ONE YEAR AFTER REVALUATION? HOW MUCH IS THE BLANCE OF REVALUATION SURPLUS AFTER THE SALE? Maroon Company provided the following data on the date ofrevaluation:Building, at original costBuilding, at fair valueAccumulated depreciation- cost40-year life and 10 years expired5,000,0006,000,000Javer to Stab oni co vsm1,250,000

Book value of Building before revaluation = Cost - Accumulated depreciation…

Maroon Company provided the following data on the date of revaluation: Building, at original cost averlo stab i o ven000,000 Building, at fair value Accumulated depreciation- cost 40-year life and 10 years expired 6,000,000 1,250,000

Maroon Company provided the following data on the date of revaluation: Building, at original cost averlo stab i o ven000,000 Building, at fair value Accumulated depreciation- cost 40-year life and 10 years expired 6,000,000 1,250,000

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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Question

Requirements: HOW MUCH IS THE REVALUATION SURPLUS ON THE YEAR OF REVALUATION? HOW MUCH IS THE GAIN OR LOSS IF THE BLDG IS SOLD FOR P8MILLION ONE YEAR AFTER REVALUATION? HOW MUCH IS THE BLANCE OF REVALUATION SURPLUS AFTER THE SALE?

Maroon Company provided the following data on the date of
revaluation:
Building, at original cost
Building, at fair value
Accumulated depreciation- cost
40-year life and 10 years expired
5,000,000
6,000,000
Javer to Stab oni co vsm
1,250,000

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