Problem 8-17OnmsldayProblem 29-9 (PHILCPA Adapted)following information related to the land and building:50,000,000450,000,000inE75,000,000LandBuildingAccumulated depreciation-buildingfor building.On June 30, 2020 the land and building were revaluedReplacement cost Sound value65,000,000480,000,000Land w biendieBuilding65,000,000600,000,0001. What is the revaluation surplus on June 30, 2020?salblinga. 135,000,000b. 125,000,000c. 120,000,000d. 160,000,000002. What is the depreciation of the building for 2020?a. 30,000,000(6. 35,000,000le. 40,000,000d. 32,000,0003. What is the revaluation surplus on December 31, 2020?(6. 130,000,000e 123,750,000d. 115,000,000et sedW000,001119-000008.01854

In straight line depreciation the value of asset is reduced uniformly. Every year same level of…

Problem 29-9 (PHILCPA Adapte following information related to the land and building 450,000,000 75,000,000 50,000,000 Land Building Accumulated depreciation-building for building. On June 30, 2020 the land and building were revalued Replacement cost Sound value 65,000,000 480,000,000 Land Building otindis 65,000,000 600,000,000 1. What is the revaluation surplus on June 30, 2020? a. 135,000,000 b. 125,000,000 c. 120,000,000 d. 160,000,000 2. What is the depreciation of the building for 2020? a. 30,000,000 b. 35,000,000 e. 40,000,000 d. 32,000,000 3. What is the revaluation surplus on December 31, 2020? a. 125,000,000 (6. 130,000,000 e123,750,000 d. 115,000,000 000.00111 0 000 030 000(008.015

Problem 29-9 (PHILCPA Adapte following information related to the land and building 450,000,000 75,000,000 50,000,000 Land Building Accumulated depreciation-building for building. On June 30, 2020 the land and building were revalued Replacement cost Sound value 65,000,000 480,000,000 Land Building otindis 65,000,000 600,000,000 1. What is the revaluation surplus on June 30, 2020? a. 135,000,000 b. 125,000,000 c. 120,000,000 d. 160,000,000 2. What is the depreciation of the building for 2020? a. 30,000,000 b. 35,000,000 e. 40,000,000 d. 32,000,000 3. What is the revaluation surplus on December 31, 2020? a. 125,000,000 (6. 130,000,000 e123,750,000 d. 115,000,000 000.00111 0 000 030 000(008.015

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

Problem 8-17
On
mslday
Problem 29-9 (PHILCPA Adapted)
following information related to the land and building:
50,000,000
450,000,000
in
E
75,000,000
Land
Building
Accumulated depreciation-building
for building.
On June 30, 2020 the land and building were revalued
Replacement cost Sound value
65,000,000
480,000,000
Land w biendie
Building
65,000,000
600,000,000
1. What is the revaluation surplus on June 30, 2020?
salbling
a. 135,000,000
b. 125,000,000
c. 120,000,000
d. 160,000,000
00
2. What is the depreciation of the building for 2020?
a. 30,000,000
(6. 35,000,000
le. 40,000,000
d. 32,000,000
3. What is the revaluation surplus on December 31, 2020?
(6. 130,000,000
e 123,750,000
d. 115,000,000
et sedW
000,001119-
000008.01
854

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b
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