Question: Show complete solutions as to why the final answer is 109,375. On January 1,2021 , information about Rabiya's equipment were disclosed and according to the

Show complete solutions as to why the final answer is 109,375.

On January 1,2021 , information about Rabiya's equipment were disclosed and according to the related notes, this particular equipment was purchased on June 30,2016 for P4,200,000. During that time, it was assessed that its useful life was 15 years. What if on January 1,2019 , the equipment's fair value was assessed to be at P4,375,000 and with remaining useful life of 8 years, how much of the revaluation surplus, if any, would be transferred to retained earnings on December 31,2021

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