At the half of the year 2021, Rosary Co. reported the following information: Equipment t cost 5,000,000 Accumulated depreciation The equipment was measured using a cost model and depreciated, on a straight line basis over 10 years. At the end of the year, the company changed their measurement of equipment to the Revaluation model. In addition, on the revaluation date, the equipment acquired the fair value of P4,550,000 with an expected useful life of 5 years. What will be the Revaluation surplus on the reporting day of December 31, 2022? a. b. 1,450,000 1,300,000 1,500,000 C. 3.250.000 d. 4,550,00 ||

At the half of the year 2021, Rosary Co. reported the following information: Equipment t cost 5,000,000 Accumulated depreciation The equipment was measured using a cost model and depreciated, on a straight line basis over 10 years. At the end of the year, the company changed their measurement of equipment to the Revaluation model. In addition, on the revaluation date, the equipment acquired the fair value of P4,550,000 with an expected useful life of 5 years. What will be the Revaluation surplus on the reporting day of December 31, 2022? a. b. 1,450,000 1,300,000 1,500,000 C. 3.250.000 d. 4,550,00 ||

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Description: At the half of the year 2021, Rosary Co. reported the following information:Equipment t cost5,000,000Accumulated depreciationThe equipment was measured using a cost model and depreciated, on astraight line basis over 10 years.At the end of the year,

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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