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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On January 1, 2021, Contagious Company provided the following information related to the land and buikding:
Land
50,000,000
Buikfing
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
Sound Value
Cost
Land
65,000.000
65.000.000
600,000,000
480.000,000
Building
What is the revaluation surplus on June 30, 2021?
O 135,000,000
O 120.000.000
O'160.000 000
O 125,000.000
Nekt
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