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?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter11: Depreciation, Depletion, Impairment, And Disposal

Section: Chapter Questions

Problem 3RE: Albany Corporation purchased equipment at the beginning of Year 1 for 75,000. The asset does not...

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