Pls answer the questions with your detailed explanations, it's much appreciated!

7 Happy Co bought a property four years ago on 1 January for $170,000. Since then property prices have risen substantially and the property has been revalued at $210,000. The property was estimated as having a useful life of 20 years when it was purchased. What is the balance on the revaluation surplus reported in the statement of financial position? $210,000$136,000$74,000$34,000 (2 marks) 8 A business purchased a motor car on 1 July 203 for $20,000. It is to be depreciated at 20% per year on the straight line basis, assuming a residual value at the end of five years of $4,000, with a proportionate depreciation charge in the years of purchase and disposal. The $20,000 cost was correctly entered in the cash book but posted to the debit of the motor vehicles repairs account. How will the business profit for the year ended 31 December 20X3 be affected by the error? Understated by $18,400 Understated by $16,800 Overstated by $18,400 Overstated by $16,800 (2 marks) Right Co's policy is to charge depreciation on plant and machinery at 20% per year on cost, with proportional depreciation for items purchased or sold during a year. Right Co's plant and machinery at cost account for the year ended 30 September 203 is shown below. What should be the depreciation charge for plant and machinery (excluding any profit or loss on the disposal) for the year ended 30 September 203 ? $43,000$51,000$42,000$45,000 (2 marks)