Spring Ltd purchased an item of equipment on 1 July 204 for $2.2 million. At...
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Accounting
Spring Ltd purchased an item of equipment on July for $ million. At that time the useful life of the equipment was assessed to be years, with no residual value. Spring applies the cost model to its equipment.
On June the recoverable amount of the equipment was assessed to be $ Accordingly, an impairment loss of $ was recognised. The remaining useful life of the equipment was assessed to be years.
On June three years later the same equipment's carrying amount is $ and its recoverable amount is $
What is the Carirying Amount of the equipment after recognition of the impairment adjustment on June in accordance with the requirements of AASB Impairment of Assets?
$
$
$
$
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