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On January 2, 2018, Rahaf purchased equipment with a cost of HK$2,088,000, a useful life of 10 years and no salvage value. The company uses
On January 2, 2018, Rahaf purchased equipment with a cost of HK$2,088,000, a useful life of 10 years and no salvage value. The company uses straight-line depreciation At December 31, 2018 and December 31, 2019, the company determines that impairment indicators are present. The following information is available for impairment testing at each year end: 12/31/2018 12/31/2010 HK$1770,000 HK$1853,000 Fair volue los costs to sell HK$1783.000 HK$1,870,000 Value-in-use There is no change in the assets useful life or salvage value. The 2018 income statement will report impairment loss of HK$
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