Answer

1. How much loss on impairment is recognized in 2020? 4,000,000

2. How much is the depreciation expense recognized in 2021? 1,500,000
3. How much gain on recovery is recognized in 2022 income statement?
3,000,000
4. How much is the depreciation expense recognized in 2023 under the
appraisal model of valuing
the property? 2,200,000
5. What is the balance of the revaluation surplus as of December 31, 2023?
1,000,000
6. How much is the depreciation expense recognized in 2023 had cost model
been used in valuing
the property 2,000,000

Step-by-step explanation

1.

2.

3.

4.
*Typographical error on the depreciation expense. It should be 2023

5.

6.