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Sousa Company, an IFRS reporter, revalues equipment with a carrying value of 1,100,000 to its fair value of 1,400,000. The original cost of the equipment

image text in transcribed Sousa Company, an IFRS reporter, revalues equipment with a carrying value of 1,100,000 to its fair value of 1,400,000. The original cost of the equipment is 1,600,000 and accumulated depreciation is 500,000. Read the requirements. Requirement a. What is the revaluation surplus or unrealized loss? The revaluation results in a(n) of

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