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Write the amount of any impairment loss

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Reference no: EM132555764

The following information relating to Plant and Equipment was taken from the financial records of Iris Ltd at 30 June 20X1:

$

Carrying amount               780,000

Fair value                        520,000

Cost of disposal             6,000

Value in use              600,000

Plant and equipment are measured using the revaluation model in accordance with AASB 116.

Required:

Question 1: Write in the box below the amount of any Impairment Loss that would be recognised by Iris Ltd at 30 June 20X1 in accordance with AASB 136.

Reference no: EM132555764

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