Show extracts of statement of profit or loss and statement

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Ali acquired an equipment on 1 January x10 for RM70 million. The useful life of the equipment was estimated to be 7 years. On 31 December x10 the equipment showed condition of impairment. An estimated of recoverable amount was carried out which indicated that the fair value of the equipment was RM27 million, the expected decommission and transportation cost was RM1 million and the estimated present value of the future economic benefits was RM28 million. Due to a sudden surge in the demand for the product manufactured, the recoverable amount based on value in use is expected to be RM30 million as at 31 December x12.

Problem 1: Show extracts of the statement of profit or loss and statement of financial position for each of the year ended 31 December x10 to x12.

Reference no: EM132721857

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