In 2015, Bambung Corporation acquired production machinery at a cost of £416,000, which now has a book value of £195,000. The discounted future cash flows from use of the machinery is £175,000 and its fair value less costs to sell is £159,000. What amount should Bambung recognize as a loss on impairment under IFRS? Group of answer choices £16,000 £36,000 -0- £20,000
In 2015, Bambung Corporation acquired production machinery at a cost of £416,000, which now has a book value of £195,000. The discounted future cash flows from use of the machinery is £175,000 and its fair value less costs to sell is £159,000. What amount should Bambung recognize as a loss on impairment under IFRS? Group of answer choices £16,000 £36,000 -0- £20,000
Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion
Section: Chapter Questions
Problem 33P
Related questions
Question
In 2015, Bambung Corporation acquired production machinery at a cost of £416,000, which now has a book value of £195,000. The discounted future cash flows from use of the machinery is £175,000 and its fair value less costs to sell is £159,000. What amount should Bambung recognize as a loss on impairment under IFRS?
Group of answer choices
£16,000
£36,000
-0-
£20,000
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