Kukkies Bhd acquired a non-current asset on 1 October 2015 at a cost of RM100,000 which...

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Kukkies Bhd acquired a non-current asset on 1 October 2015 at a cost of RM100,000 which had a useful economic life of ten years and a nil residual value. The asset had been correctly depreciated up to 30 September 2020. On that date the asset was damaged and an impairment review was performed. On 30 September 2020, the fair value of the asset less costs to sell was RM30,000 and the expected recoverable amount is RM32,215. 8. What amount would be charged to profit or loss for the impairment of this non-current asset for the year ended 30 September 2020? Kukkies Bhd acquired a non-current asset on 1 October 2015 at a cost of RM100,000 which had a useful economic life of ten years and a nil residual value. The asset had been correctly depreciated up to 30 September 2020. On that date the asset was damaged and an impairment review was performed. On 30 September 2020, the fair value of the asset less costs to sell was RM30,000 and the expected recoverable amount is RM32,215. 8. What amount would be charged to profit or loss for the impairment of this non-current asset for the year ended 30 September 2020?

Answer rating: 100% (QA)

To determine the amount that would be charged to profit or loss for the impairment of the noncurrent ... View the full answer