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PQR's plant, costing 80,000, was damaged in its 6th year of business use. Plant life...

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Accounting

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PQR's plant, costing 80,000, was damaged in its 6th year of business use. Plant life is 10 years. Engineers reckon residual plant life to be 3 years with value-in-use of 30,000. The plant could be scrapped now for 10,000. Calculate the asset impairment. A) 25,000 B) 20,000 C) 15,000 D) 10,000 [02 marks]

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