Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On 31 October 2012 the carrying amount of an entitys delivery truck was R200 000 when its recoverable amount was estimated to be R190 000.

On 31 October 2012 the carrying amount of an entitys delivery truck was R200 000 when its recoverable amount was estimated to be R190 000. On 31 October 2013 conditions that led to the previous impairment changed it was estimated that the new recoverable amount of the delivery truck was now R205 000. How much impairment can be reversed on 31 October 2013?

Select one:

a. R5 000

b. R15 000

c. R205 000

d. R10 000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray Garrison, Eric Noreen, Peter Brewer

16th edition

1259307417, 978-1260153132, 1260153134, 978-1259307416

Students also viewed these Accounting questions