Calculate the adjusted carrying value of the asset at dec

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At Dec 31, 2021, the equipment now has a new use in the market that makes it more valuable. As of that date, the equipment could be sold for $86,000 (with costs to sell estimated at $400). Also as of that date, the total estimated future cash flows from use of the equipment are estimated to be $84,000 ($78,000 on a discounted basis).

Problem 1: Calculate the adjusted carrying value of the asset at Dec 31, 2021:

i) Under IFRS

ii) Under ASPE

Reference no: EM132678223

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