A company purchased and installed Machinery worth RO 615,000 on 1st January 2018. It was estimated that this asset will have an estimated life of 10 years with a residual value of RO 65,000. On 31st December 2019 it was decided to follow revaluation model for such asset and a professional team was hired for its revaluation. The assets fair value was estimated to be RO 560,000 with no change in its remaining life and its residual value to be nil. For the above identify the correct treatment as per IAS16.

1. Carrying amount of machinery as on 31 December 2018:

2. The amount of Revaluation surplus or loss will be:

3. The amount with which asset cost account will be affected on revaluation:

4. The amount of excess depreciation that will have to be adjusted at the end of year 2019:

5. The amount of depreciation that will be provided in the year 2020: