In fiscal year 2020, the company had formed an inventory impairment of 2000. In fiscal year 2021, the company considered that the required amount of accumulated impairment amounted to 1200 and thus reversed the difference in results. However, according to the documented opinion of the Chartered Accountant, the required amount of accumulated impairment in the year 2021 amounted to the amount of 2500. Based on the above if the amount of 2021 net worth is 15000, the actual net worth amount is 31/12/2021?
In fiscal year 2020, the company had formed an inventory impairment of 2000. In fiscal year 2021, the company considered that the required amount of accumulated impairment amounted to 1200 and thus reversed the difference in results. However, according to the documented opinion of the Chartered Accountant, the required amount of accumulated impairment in the year 2021 amounted to the amount of 2500. Based on the above if the amount of 2021 net worth is 15000, the actual net worth amount is 31/12/2021?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
In fiscal year 2020, the company had formed an inventory impairment of 2000. In fiscal year 2021, the company considered that the required amount of accumulated impairment amounted to 1200 and thus reversed the difference in results. However, according to the documented opinion of the Chartered Accountant, the required amount of accumulated impairment in the year 2021 amounted to the amount of 2500. Based on the above if the amount of 2021 net worth is 15000, the actual net worth amount is 31/12/2021?
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