Question 2: Non-current assets held for sale and discontinued operations 15 marks A company acquired property for N$500,000 on 1 January 2016. The useful life of the property is 20 years (zero residual value). The property is measured subsequently at depreciated historical cost. On 31 December 2017, it is decided that the property is to be classified as held for sale (classification criteria are met). An impairment assessment on 31 December 2017 determines the recoverable value (based on VIU) to be N$400,000. The FVLCS on 31 December 2017 is N$390,000. At 31 December 2018, there is a change in plans and the property no longer meets the criteria to be classified as held for sale. There is no change in the useful life of the property at any point. The recoverable value at 31 December 2018 is N$385,000. Requirement Show with relevant calculations how the property would be accounted for in 2017 and 2018