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See opentuition course notes chapter 3 example 1, see it’s answers; Why is impairment loss $25000???
PLEASE REPLY Thanks in advanceThey told you that the revaluation surplus had 25 000 relating to the asset.
So when the asset was written down from 130 000 to 95 000 = 35 000
you must, Dr revaluation of 25 000. Cuz that’s all there is to take out.
the remaining 10 000 (35 000 – 25000) i think put to P&L!
(Just trying my luck. Sorry if i’m wrong)
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