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How much is the amount of revaluation surplus

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NCT Company applies revaluation accounting to plant assets with a carrying value of P800,000, a useful life of 4 years, and no salvage value. Depreciation is calculated on the straight-line basis. At the end of year 1, independent appraisers determine that the asset has a fair value of P750,000.

Problem 1: How much is the amount of revaluation surplus when the asset is revalued?

Reference no: EM132996008

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