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please shows the correct answer and the all calculations A machine was acquired for 500,000 with estimated useful economic life of 10 years and residual
please shows the correct answer and the all calculations
A machine was acquired for 500,000 with estimated useful economic life of 10 years and residual value of 50,000. It is depreciated using straight-line method. After 4 years of usage, it is estimated that remaining economic useful life is only 4 years with nil residual value. Estimated value in use is 240,000 and net realizable value is 280,000. What is the amount to be written off as impairment in Income Statement at the end of year 5 and annual depreciation over remaining useful life? Impairment Depreciation A. 30,000 60,000 B. 40,000 70,000 C. 50,000 75,000 D. 70,000 40,000
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