PROBLEM #6 FF Company provided the following data pertaining to a machinery on the date of revaluation: Cost Replacement cost Machinery 4,500,000 7,200,000 Accumulated 900,000 depreciation Age of asset 3 years REQUIRED: 1. Appreciation or revaluation increase 2. Carrying amount 3. Depreciated replacement cost 4. Revaluation surplus 5. Original useful life of the asset 6. Prepare journal entry to record the revaluation. 7. Prepare journal entry to record the annual depreciation subsequent to revaluation. 8. Prepare journal entry to record the piecemeal realization of the revaluation surplus