The and eman audi *Required 1. Suppose an entity bought a patent three years ago for 200,000 with an estimated useful life of 10 years. Currently its accumulated amortisation is standing at 60,000. This gives the net book value of 140,000 (200,000-60,000) Now fair value of asset can either be significantly more than the net book value of asset or significantly less. Fair market value is 180,000 Required: to show the journal entries* (1 Point) Dr Revaluation surplus/ Cr Accum. Amortization 40.000 Dr Accum. Amortization/ Cr Revaluation Surplus 40,000 Dr Accum. Amortization / Cr Revaluation Surplus 20,000 Dr Impairment Loss/ Cr Revaluation Surplus 40,000