On lanuary 1, 2021, Contagious Company provided the following information related to the land and building: Land 50,000,000 Building 450,000,000 Accumulated Depreciation - Building 75,000,000 There were no additions or disposals during the current year. Depreciation is computed using straight line over 15 years for building. On June 30, 2021, the land and building were revalued. Replacement Spund Value Cost 65,000.000 65.000,000 Land 600,000,000 480,000,000 Building What is the revaluation surplus on June 30, 2021?

On lanuary 1, 2021, Contagious Company provided the following information related to the land and building: Land 50,000,000 Building 450,000,000 Accumulated Depreciation - Building 75,000,000 There were no additions or disposals during the current year. Depreciation is computed using straight line over 15 years for building. On June 30, 2021, the land and building were revalued. Replacement Spund Value Cost 65,000.000 65.000,000 Land 600,000,000 480,000,000 Building What is the revaluation surplus on June 30, 2021?

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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