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Entity A is a listed company in Hong Kong. It owns a plant with a carrying amount in the statement of the financial position is
Entity A is a listed company in Hong Kong. It owns a plant with a carrying amount in the statement of the financial position is $1,689,000. Entity A has just received an offer of $1,565,000 from Entity B in Taiwan interested in buying the plant. The present value of the estimated cash flows from the continued use of the plant is $1,520,500. The estimated cost of shipping the plant to Taiwan is $12,500. REQUIRED: According to the relevant accounting standards, measure the impairment loss to be recognised on the plant. ANSWER: The impairment loss =$
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