Emed Address: presidenta.batstate-ss.cdu.ch Website Address!Problem 20-9 (PHILCPA Adapted)On January 1, 2020, Contentious Company provided thefollowing information related to the land and building50,000,000450,000,00075,000,000LandBuildingAccumulated depreciation-buildingThere were no additions or disposals during the current year.Depreciation is computed using straight line over 15 yearsfor building.On June 30, 2020 the land and building were revalued.Sound valueeplacement cost65,000,000600,000,00065,000,000480,000,000LandBuilding1 What is the revaluation surplus on June 30, 2020?a 135,000,000b. 125.000.00o0C. 120,000,000d. 160,000,0002. What is the-depreciation of the building for 2020?a. 30,000,000b. 35,000.000c. 40,000.000d. 32.000.0003. What is the revaluation surplus on December 31,20202a 125.000,000b. 130,000,000c. 123,750,000d. 115,000,000

Name: Emed Address: presidenta.batstate-ss.cdu.ch Website Address!Problem 2
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Description: Emed Address: presidenta.batstate-ss.cdu.ch Website Address!Problem 20-9 (PHILCPA Adapted)On January 1, 2020, Contentious Company provided thefollowing information related to the land and building50,000,000450,000,00075,000,000LandBuildingAccumulate

Business

Accounting

1. What is the revaluation surplus on June 30, 2020? a 135,000,000 b. 125,000,000 c. 120,000,0o0 d. 160,000,000 2 What is the -depreciation of the building for 2020? a. 30,000,000 b. 35,000,000 40.000 0n

1. What is the revaluation surplus on June 30, 2020? a 135,000,000 b. 125,000,000 c. 120,000,0o0 d. 160,000,000 2 What is the -depreciation of the building for 2020? a. 30,000,000 b. 35,000,000 40.000 0n

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 60E

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