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How much is the revaluation surplus for orange co

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Reference no: EM132983850

On December 31, 2011, the building of Orange Co. was revalued. Information on revaluation date is shown below:

                                  Cost                         Replacement cost

Building                      72,000,000              144,000,000

Accumulated depreciation 16,000,000

Residual value                8,000,000               8,000,000

Remaining useful life         10 years                  12 years

Problem 1: How much is the revaluation surplus?

Reference no: EM132983850

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