how much is the revaluation surplus to be recognized on Dec. 31 2021? Transcribed Image Text: On January 1, 2020, G Corp. purchased a unit of equipment for P20,000,000. The

how much is the revaluation surplus to be recognized on Dec. 31 2021? Transcribed Image Text: On January 1, 2020, G Corp. purchased a unit of equipment for P20,000,000. The
asset is estimated to have a useful life of 20 years with no residual value.
On December 31, 2021, G Corp. gathered information concluding that the asset’s
sound value increased to P36,000,000. However, two years after, on December 31,
2023, the fair value of the equipment dropped to P20,000,000. The entity also revised
its remaining useful life to 10 years.

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