a) CQ Bhd acquired an investment property on 1 January 2017 at a cost of RM900,000. The property is depreciated on the straight line basis over 50 years with no residual value. On 31 December 2018, its fair value less costs of disposal was estimated at RM720,000 and its value in use was estimated at RM672,000.

In December 2020, there were indications that the impairment loss recognised in 2018 may be reversed. The recoverable amount of the property was estimated at RM840,000.

Required:

i) Prepare journal entries to record the impairment loss in 2018 and write-back in 2020. (5 marks)

ii) Prepare extracts from the statement of financial position as at 31 December 2017, 2018, 2019 and 2020 in relation to the investment property. (10 marks)