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Machinery Fallback Ltd owns only one item of machinery, which it has always carried under the cost model, details of which follow: - Cost (1
Machinery Fallback Ltd owns only one item of machinery, which it has always carried under the cost model, details of which follow: - Cost (1 September 2019) - N\$500 000 - Depreciation - 20% pa straight-line to nil residual value - Recoverable amount (31 August 2021) - N\$210 000 On 1 December 2021, the company decided to sell the machinery. All the criteria necessary for the reclassification as a non-current asset held for sale were met on this date. The following information was relevant on this date: - Fair Value - N\$200000 - Cost to sell - N\$10000 - Value in use - N\$160000
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