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Question - Robert Ltd reported the following assets in its statement of financial position at 30 June 2021.
Plant $800,000
Accumulated depreciation (240,000)
Land 300,000
Patent 240,000
Office equipment 620,000
Accumulated depreciation (340,000)
Inventories 220,000
Cash and cash equivalents 180,000
$1,780,000
For impairment testing, the entity is a single cash generating unit. The recoverable amount of the entity was calculated to be $1,560,000. The fair value less costs of disposal of the land was $280,000.
Required - Prepare the journal entry for any impairment loss at 30 June 2021 (narration is required). Show all calculations.
Discuss the 2 pros and 2 cons of activity-based costing. Give an example of a situation where activity-based costing could be used effectively.
a company had the following purchases during the current yearjanuarynbspnbsp44 units at 130nbspnbspfebruarynbspnbsp54
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