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What the carrying amount of the eta asset at june

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Problem 1: On 1 July 20X0 Alpha Ltd received emission trading allowances (ETAs) for 1,000 tonnes of carbon dioxide from the government at no cost. The fair value of ETAs was $32 per tonne at 1 July 20X0 but had increased to $40 per tonne at 30 June 20X1. Alpha Ltd emitted 500 tonnes of carbon dioxide during the year. Emission obligations are settled on 31 August for the previous year ended 30 June. If Alpha Ltd uses the IFRIC 3 model without revaluation to account for the ETAs, the carrying amount of the ETA asset at 30 June 20X1 will be:

Option 1: $16 000

Option 2: Nil

Option 3: $40 000

Option 4: $32 0000

Reference no: EM132767140

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