The value of a fixed asset after deducting accumulated depreciation from its historical cost is called:

Firms routinely omit intangible capital values from formal financial balance sheets for all of the following accounting/measurement reasons EXCEPT:

On 31 January 20X8, Ron Co. disposed of a building for $450,000. The building was accounted for using the revaluation model. At the date of disposal, the building had a cost/valuation of $400,000 and accumulated depreciation of $90,000, resulting in a carrying amount of $310,000. Additionally, there was a related revaluation surplus of $30,000 remaining in equity. What is the profit on disposal to be included in the Statement of Profit or Loss and what is the treatment of the $30,000 revaluation surplus?