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Can you show me how to use revaluation model? Determining recoverable amount and impairment adjustments Consider the following information relating to five different items of

image text in transcribed Can you show me how to use revaluation model?

Determining recoverable amount and impairment adjustments Consider the following information relating to five different items of plant and equipment at the reporting date. Carrying amount Fair value Costs of disposal Value in use Asset 100000 50000 80000 200000 120000 105000 45000 85000 190000 120000 3000 1 000 2000 5000 3 000 110000 48000 82 000 220000 115000 Required 1. Calculate the recoverable amount for each of the five items of plant and equipment. 2. Assuming plant and equipment is carried under the cost model, determine the amount of any impairment adjustment necessary Assuming plant and equipment is carried under the revaluation model, determine the amount of any revaluation adjustment necessary 3. (LO3 and LO4)

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