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Question: consider the following information that relates to five different items...
Question details
Consider the following information that relates to five different items of plant and equipment at the reporting date:
Asset
Carrying amount
$
Fair value
$
Costs of disposal
$
Value in use
$
A
100 000
105 000
3 000
110 000
B
50 000
45 000
1 000
48 000
C
80 000
85 000
2 000
82 000
D
200 000
190 000
5 000
220 000
E
120 000
120 000
3 000
115 000
Required
a) Calculate the recoverable amount for each of the five plant and equipment assets.
B) Assuming plant and equipment is carried under the revaluation model, determine the amount of any revaluation adjustment necessary for each of the five assets.?
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