Company X purchased freehold land and buildings on 1 July 2008 for 190,000, which includes 40,000 for the land. The buildings had been depreciated at the rate of 4% per annum on cost for the next 10 years until 30 June 2018 . On 1 July 2018 , the property was professionally revalued at 400,000 including 100,000 for the land. At 1 July 2018 it was estimated that the building had a remaining useful life of 20 years and a residual value of 50,000. Compute the following: (a) The revaluation surplus on 1 July 2018 in relation to the freehold land and buildings. (3 marks) (b) The carrying amount of the freehold land and buildings on 30 June 2019