Reference no: EM132948942
Questions -
Q1. On January 1, 2020, DAHLIA Company showed land with a carrying amount of 10,000,000 and building with cost of 60,000,000 and accumulated depreciation of 18,000,000. The land and building were revalued on the same date and revealed the fair value of land at 15,000,000 and building at 70,000,000. The original useful life of the building is 20 years and depreciation is computed on the straight line. What is the revaluation surplus on December 31, 2020?
A. 11,142,857
B. 31,000,000
C. 11,500,000
D. 30,642,857
E. 33,000,000
Q2. On January 1, 2020, DAHLIA Company showed land with a carrying amount of 10,000,000 and building with cost of 60,000,000 and accumulated depreciation of 18,000,000. The land and building were revalued on the same date and revealed the fair value of land at 15,000,000 and building at 70,000,000. The original useful life of the building is 20 years and depreciation is computed on the straight line. What is the annual depreciation for 2020?
A. 3,500,000
B. 5,000,000
C. 3,000,000
D. 4,500,000