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What value should asset be carried in financial statements

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Problem 1: A company identifies an asset for which there are possible signs of impairment. The asset is currently held in the financial statements at £20,000. It is estimated that the asset could be sold for £22,000. Its value in use has been calculated at £28,000. The replacement cost of an identical asset would be £30,000. At what value should the asset be carried in the financial statements?

Reference no: EM132765408

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