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What is the balance of revaluation surplus on dec

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Problem 1: On January 1.2020, Chrishelle Inc. acquired a machinery with a cost of 600,000 and residual value of 100,000. the estimated useful life of the machinery is 5 years. it is the company policy to use revaluation model for the machinery. On December 31, 2020, the replacement cost is 900,000 while the revised useful life from the starts is 11 years with no change in residual value. what is the balance of revaluation surplus on Dec. 31,2024?

Reference no: EM132759446

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