• Example $6$:A company that reports using IFRS acquired an excavator on January$1,2009,$ at a cost of $$10,000.$ This excavator represents the company$’$sonly piece of equipment. The company uses fair value for its equipment using IAS $16.$ This excavator is being depreciated on astraight$-$line basis over its $10-$year useful life. There is no residual value at the end of the $10-$year period. In both $2009$ and $2010,$depreciation would be $$1,000.$ On December $31,2010,$ the fair value is determined to be $$8,800.$ On December $31,2012,$ the fairvalue is determined to be $$5,000.$ The company$’$s accounting policy is to reverse a portion of revaluation surplus related to the increased depreciation expense.$–$ Determine what accounts would be impacted if this activity is recorded for $2009$ through $2012.$Periodic valuation Carrying value.