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Find the company realized that the impairment was reversed

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Question 1: The Sky Company purchased a machine for 900.000 $ on 1.1.2014. The company determined that it has a residual value of 150.000 $ with a useful life of 10 years. The company uses straight line depreciation method and for the valuation it employs cost method. At the end of 2016 the company suspected for an impairment and made an impairment test and found that the machine had a net selling price (fair value) of 340.000 $, and the value in use was 570.000 $. There is no change on the original useful life and residual values. On 31.12.2017 the company realized that the impairment was reversed, and the recoverable amount calculated for 615.000

Reference no: EM132567336

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