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can you please wxplain in detail the solution 30) IAS 36 deals with impairment. (10 p.) a. What is meant by impairment? b. Given three
can you please wxplain in detail the solution
30) IAS 36 deals with impairment. (10 p.) a. What is meant by impairment? b. Given three examples of indications of impairment. c. When an impairment is made, how does this effect the income statement and the statement of financial position? d. Based on the information provided below, determine whether or not the following assets should be impaired. For the asset(s) that should be impaired, calculate the impairment loss. Asset 1 Asset 2 Accumulated impairment loss 300 Cost to sell asset Value in use 1000 Fair value 1250 Acquisition cost Accumulated depreciation Cost of on-going maintenance of asset 125 25 650 600 650 50 150 1500 150 Step by Step Solution
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