Question (1): XYZ Company Purchase a building on 1" April 2011 for $ 100,000. The useful life of an asset was 10 years. On 1 April 2013, the company revalued the building to its currents fair value of $ 60,000. Assume that the fiscal year starts on 1" April. What would be the journal entry to record the revaluation transaction? (12 Marks) Subsequent revaluation Assume that on 1 April 2015, XYZ revalued again its building and found that the fair value of $ 70000. Prepare the journal entry Subsequent revaluation - Assume that on 1 April 2017, XYZ revalued again its building and found i that the fair value of $ 50000. Prepare the journal entry