Question 15 Under IFRS, how is the account revaluation surplus reported? A. As "other revenues and expenses on the income statement. B. As part of other comprehensive income which can be reported presented in separate statement, combined with income statement, or in changes in stockholders' equity statement. C. It is included with Reserves in the stockholders' equity section of the Statement of Financial Position. D. The account is not reported in the financial statements. Question 16 On January 1, 2019, Illusion Company purchased a new machine for 2,100,000. The new equipment has an estimated useful life of nine years and the residual value was estimated to be 85,000. Depreciation was computed on the sum-of-the-years'-digits method. What amount should be shown in Illusion's Statement of Financial Position at December 31, 2021, net of accumulated depreciation, for this machine? (Rounded to nearest ) A. 1,695,000 B. 1,335,000 C. 1,025,334 D. 1,244,250 Question 17 Technical Products Ltd purchased a computer for 13,000 on July 1, 2020. The company intends to depreciate it over 5 years using the double-declining balance method. Residual value is 1,000. Depreciation for 2020 is A. 6,500 B. 3,250 C. 4,875 D. 2,600