What is the revaluation surplus balance at december

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Koto, Inc. purchased a machinery on January 1, 2013 at a cost of 100,000. It is being depreciated using straight line method over its projected useful life of 10 years. At December 31, 2013, the asset's fair value was 112,500. Accordingly, an entry was made on that date to recognize the revaluation write-up. An impairment was detected on December 31, 2015, and the recoverable amount of the asset was determined to be 68,000. At December 31, 2016, the fair value of the asset was determined to be 73,000.

Problem 1: What is the revaluation surplus balance at December 31, 2015, before recognition of the impairment loss?

Reference no: EM132824094

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