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If you write by hand, make sure the handwriting is clear, thank you The...

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Accounting

imageIf you write by hand, make sure the handwriting is clear, thank you

The following information relates to three assets held by Entity A at the year-end of 2020: Machine Plant Motor Van Carrying amount $56,850 $98,600 $123,450 Value in Use $56,500 $78,600 $124,450 Fair Value less Costs of Disposal $56,600 $89,650 $124,540 These assets are used by Entity A for generating economic benefits in its business operation. REQUIRED: According to relevant accounting standards, measure: the impairment loss which was charged in the Statement of Profit or Loss for the period ended 31 December 2020; and the carrying amount of the PPE which was recognised in the Statement of Financial Position as at 31 December 2020. ANSWERS: Statement of Profit or Loss for the period ended 31 December 2020 The impairment loss is $ Statement of Financial Position as at 31 December 2020 The carrying amount is $

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