On 30 September 20X7 the impairment review was carried out. The following amounts were established in respect
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Question:
On 30 September 20X7 the impairment review was carried out. The following amounts were established in
respect of the machine:
$
Carrying amount 850,000
Value in use 760,000
Fair value 850,000
Costs of disposal 30,000
What should be the carrying amount of the machine following the impairment review?
A $760,000
B $820,000
C $850,000
D $790,000
Expert Answer:
the answer is B 820000 Step 1 An impairment review is a review or a procedure that compares the carr... View the full answer
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