Determining recoverable amount and impairment adjustments

Assignment Help Accounting Basics

Reference no: EM132893632

Application and analysis exercises

Exercise

Determining recoverable amount and impairment adjustments

Consider the following information relating to five different items of plant and equipment at the reporting date.

Required

1. Calculate the recoverable amount for each of the five items of plant and equipment.

2. Assuming plant and equipment is carried under the cost model, determine the amount of any impairment adjustment necessary.

3. Assuming plant and equipment is carried under the revaluation model, determine the amount of any revaluation adjustment necessary.

Reference no: EM132893632

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