As on April 1, 2009 the carrying amount of ATM (automated teller machine) of a bank is
Question:
As on April 1, 2009 the carrying amount of ATM (automated teller machine) of a bank is ₹ 9,00,000. By considering internal and external indicators, the company recognizes impairment loss. The net sales value is assessed at ₹ 7,15,000 and value in use is calculated as ₹ 6,80,000.
Show how this ATM is to be impaired in the year 2009. What would be your answer if value in use of ATM is considered ₹ 9,20,000?
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Here we assume that this ATM machine has not been revalued in the past The net recoverable amoun...View the full answer
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Muhammad Rehan
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