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+--- Thread: IMPAIRMENT losses!! guYs need help (/thread-impairment-losses-guys-need-help)
IMPAIRMENT losses!! guYs need help - Sahar_M - 06-09-2008
I am stuck with this prob . . . unfortunately cant find a book to look up the solution [)] and on top of that notes taken in class ant making any sense. [(]
the solution is there in the CA book
Q. what is the treatment for <b>impairment Losses</b> . . . both the <u>cost(benchmark)</u> and <u>Allowed method(GRV and NRV methods)</u>
entries needed [D]
thanks
- Sahar_M - 06-09-2008
<b>oh!forgot [D] the problem is
Bought Asset at 100,000 on 1Jan 2001
Scrap value nil
straight line dep of 10%/annum.
On 1 Jan 2002 the value of the asset is 90,000.
need the entries for the <u>GRV and NRV.</u></b>