For each of the following capital assets, determine if the asset is impaired according to IFRS and,

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For each of the following capital assets, determine if the asset is impaired according to IFRS and, if necessary, the amount of the writedown required. Remember to determine the recoverable amountfirst:

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Financial Accounting A Critical Approach

ISBN: 978-1259066528

4th edition

Authors: John Friedlan

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Question Posted: Feb 26, 2015 11:31 AM

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For each of the following capital assets, determine if the asset is impaired according to IFRS and,

Question:

Asset Carrying amount Value in use Fair value less cost to sell $18,00,00 $2300,00 a. Apartment building b. Patent c. Assembly line d. Service centre 7,000,000 25,000,000 4,500,000 3,250,000 12,750,000 6,000,000 S20,500,000 2,500,00 18,000,000 6,250,000

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Financial Accounting A Critical Approach

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