The carrying amount of a piece of machinery at 30 June 2017 was $580,000. At this date there was an indication that the machinery might be impaired. In preparing for the impairment testing, you have estimated that the piece of machinery's fair value less costs of disposal to be $345 000 and its value in use to be $354 000.

What would be the impairment loss recorded at 30 June 2017?

Answer rating: 100% (QA)

To determine the impairment loss recorded at 30 June 2017 we need to compare th... View the full answer