Pro deni the Problem 29-9 (PHILCPA Adapted) On info On January 1, 2020, Contentious Company provided following information related to the land and building: 50,000,000 450,000,000 75,000,000 Eq! Acc Land Building Accumulated depreciation - building Th de Depreciation is computed using straight line over 15 years There were no additions or disposals during the current year. for building. or of re- 0: P4 On June 30, 2020 the land and building were revalued Replacement cost Land 65,000,000 600,000,000 Sound value 65,000,000 480,000,000 1. Building 1. What is the revaluation surplus on June 30, 2020? a. 135,000,000 b. 125,000,000 c. 120,000,000 d. 160,000,000 2. What is the depreciation of the building for 2020? a. 30,000,000 b. 35,000,000 c. 40,000,000 d. 32,000,000 3. What is the revaluation surplus on December 31, 2020? a. 125,000,000 b. 130,000,000 c. 123,750,000 d. 115,000,000