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Mock Exam: Asset Revaluation and Impairment

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iameichitpaing
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8 views16 pages

Mock Exam: Asset Revaluation and Impairment

Uploaded by

iameichitpaing
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Mock Exam (1)

I July I Tan 6/12 I July 6/12 3) Dec

20x3
20x9 20x4 20x4
Purchase bed Revalue ech
Lost $80
, 000 F1 -$8
1 000
Life-10 Er Remaining life - (10-1 =
q &

16
Depu : for 20x4 &
Before Revaluation (80000/10) XS/12 4000
After Revaluation (21000/97XS/12 4500
8500
18

carrying Recoverable =
T
-

mpairment
Amount Amount Loss

$60750 $43
,000 $ 17550

I higher of

Fair value value in use

less cost to self $38685

(45000 -
2000)
=$43000
20 Lash Generating Unit 000

1170
carrying Amount
Recoverable Amount 950
Impairment loss 220

Allocate
st Damage machine -$35
and Goodwill -$85
und Other assets (Pro-rata) -

$100
(Exclude current
assets) Plant $
$000 CA 300

Building 500 - 18 x 100 = 62 .


5 T
-L (3705)
PRE 300318x100 = 3705 262 5.
8

Right of use asset $

IJan 20x7-lease lability 48000


Deposit 2000
Disect cost 5000
Total cost 55000

Depu : (55000/4)x2 (2750)


3) Dec 20x8 -

carrying amount 27500

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