1. On 1 July 2018, Galah Ltd purchased equipment at a cost of $1,200,000. The equipment has an estimated useful life of 12 years, an estimated residual value of zero and will be depreciated using the straight-line method. The company adopts the cost model for all of its non-current assets and because it is listed on the Australian Securities Exchange (ASX), it complies with AASB 116 Property, Plant and Equipment and AASB 136 Impairment of Assets.

   Details in relation to the equipment are as follows:

   Year ended 30 June:	Item
   2019	Impairment loss	$50,000
   2019	Carrying amount (after impairment and depreciation)	$1,050,000
   2020	Recoverable amount	$1,050,000
   2020	Indictors of impairment/reversal of impairment are present	yes

   Required:

   Which of the following statements is MOST correct for the year ended 30 June 2020?

   	A.	Galah Ltd would recognise a loss item Impairment Loss equal to $100,000.
   	B.	Galah Ltd would recognise a revenue item Reversal of Impairment Loss equal to $345,455.
   	C.	Galah Ltd would recognise a revenue item Reversal of Impairment loss equal to $50,000.
   	D.	Galah Ltd would recognise a revenue item Reversal of Impairment loss equal to $45,455.