cureu: 3. a. MFRS 136 Impairment of Assets defines impairment loss as the amount by which the carrying amount of an asset exceeds its recoverable amount Required: (i) Describe the indications that an asset may be considered impaired within the scope of MFRS 136. (ii) Define recoverable amount and explain the measurement of recoverable amount within the scope of MFRS 136. Basics acquired an equipment on 1 January x10 for RM50 million The useful life of the equipment was estimated to be five years. On 31 December x10, the equipment showed conditions of impairment. An estimate of recoverable amount was carried out which indicated that the fair value of the equipment was RM27 million, the expected decommission and transportation cost was RM1million and the Domilron (27 millon-lmilion) b. million. Due to a sudden surge in the demand for the product manufactured by this equipment the recoverable amount based on value in use is expected to be RM 40 million as at 31 December x12 Required: Show extracts of the statement of profit or loss and statement of financial position for each of the year ending 31 December x10 to x14. How do you test for impairment? estimated present value of the future economic benefits was RM28 Valur in