A depreciable property costing P1,400,000 with original residual value o P80,000 after 10 years, had been revalued at a replacement cost of P1,680,000 with residual value of P20,000. The age of the asset is four years when it was revalued. What is the revaluation surplus? *

A depreciable property costing P1,400,000 with original residual value o P80,000 after 10 years, had been revalued at a replacement cost of P1,680,000 with residual value of P20,000. The age of the asset is four years when it was revalued. What is the revaluation surplus? *

Name: Show the solution in good accounting form A depreciable property costi
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Description: Show the solution in good accounting form A depreciable property costing P1,400,000 with original residual value ofP80,000 after 10 years, had been revalued at a replacement cost ofP1,680,000 with residual value of P20,000. The age of the asset is fo

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 8MC: On July 1, 2018, Mundo Corporation purchased factory equipment for 50,000. Residual value was...

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