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Question 6 0/0.1 pts Alvin Limited acquired a plant for $60 000 on 1 April 2017. This amount was also the tax base of the land. At its year end on 31 March 2019, this plant was revalued upwards to $70 000. The tax rate is 30%. Alvin Limited applies 10% straight line depreciation policy on its plants. The appropriate journal entry to recognise the net effects of the revaluation (after closing entries) in the statement of financial position at 31 March 2019 is: Dr. Accumulated Depreciation - Plant $12 000 Dr. Plant 10 000 15 400 Cr. Asset Revaluation Surplus Cr. Deferred Tax Liability 6 600 Correct answer True You Answered False Your swers incorrect