[ALBINJOHN1234]

An entity revalued its land and buildings at the start of the year to
$60 million ($15 million for the land). The property cost $30 million ($6
million for the land) ten years prior to the revaluation. The total
expected useful life of 40 years remained unchanged. The entity’s
policy is to make an annual transfer of realised amounts to retained
earnings.
Show the effects of the above on the financial statements for the
year.
please show me how to calculate this

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