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no need for assets and liabilities...... just need the extract Gelama Bhd purchased an equipment on the 1 January 2015 for RM12,000,000. The equipment is
no need for assets and liabilities......
Gelama Bhd purchased an equipment on the 1 January 2015 for RM12,000,000. The equipment is depreciated on straight lines basis over its five years useful life. Unfortunately, the equipment showed conditions of impairment in June 2017. The fair value less costs to sell on 30 June 2016 was RM 4,000,000 and the value in use was RM5,000,000 Required: a) Show the extract of the statement of financial position as at 31 December 2017. (7 marks) b) Assume that the equipment has been picking up and the equipment has a recoverable amount of RM3,000,000 as at 31 December 2018. Show the extract of the statement of financial position as at 31 December 2018 and 31 December 2019 (10 marks) c) Explain how 'recoverable amount is determined in accordance to MFRS 136 (3 marks) Total: 20 marks just need the extract
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