13. On December 31, 20x1, Ala-Phi Co's building with a historical cost of P40,000,000 and accumulated depreciation of P16,000,000 was determined to have a replacement cost of P50,000,000. Additional information follows: Actual life 10 years Remaining historical life 15 years Effective life 8 years Remaining economic life 24 years Income tax rate 30% How much are (1) the revaluation surplus, net of tax, and (2) the revised annual depreciation under the straight-line method subsequent to the date of revaluation? A. 9,450,000; 1,562,500 B. 9,450,000; 2,500,000 C. 13,500,000; 1,562,500 D. 13,500,000; 2,500,000 14. On January 1, 20x1, Farmer Dell Co. acquired a building for P22,000,000. Farmer Dell estimated a useful life of 25 years and a residual value of P2,000,000. Farmer Dell uses the straight-line method of depreciation and is subject to an income tax rate of 30%. On December 31, 20x6, Farmer Dell revalued the building and determined the following information. Actual life 6 years Remaining historical life 19 years Total economic life 28 years Remaining economic life 21 years Replacement cost P30,000,000 Residual value P3,000,000 Farmer Dell opted to periodically transfer within equity a portion of the revaluation surplus on a piecemeal basis. How much are the carrying amounts of (1) the building and (2) the revaluation surplus on Dec. 31,20x7? A. 23,250,000; 4,235,000 B. 22,285,714; 4,033,333 C. 21,367,921; 3,937,667 D. 20,985,618; 3,933,333 15. A building required 15 years ago for P8,000,000 is currently estimated to have a replacement cost of P12,000,000, an effective life of 10 years, and a remaining economic life of 30 years. The building was originally depreciated on a straight-line basis over a useful life of 25 years. A patio was added to the building 10 years ago for a total cost of P3,000,000. The addition was originally estimated to have a useful life 20 years. The patio is currently estimated to have a replacement cost of P4,200,000, an effective life of 10 years, and a remaining economic life of 15 years. The entity is subject to an income tax rate of 30%. How much is the total revaluation surplus recognized on the revaluation date? A. 4,774,000 b. 2,986,000 c. 4,012,000 d. 3,874,000