On 1 April 20X8 the fair value of Xu's leasehold property was $ 100,000 with a remaining life of 20 years . The company's policy is to revalue its property at each y ear end . At 31 March 20X9 the property was valued at $ 86,000 . The balance on the revaluation surplus at 1 April 20X8 was $ 20,000 which relates entirely to the leasehold property . a ) Calculate the gain / loss on revaluation loss - $ 14,000 . b ) Show double entry for recording the above gain / loss /