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F7 Chapter 3 Example 1;
In this question, part three says,
” (iii) A non-current asset with a carrying value of $130,000 was written down to $95,000. The impairment occurred as a result of general price changes. The revaluation surplus account contains $25,000 relating to this asset.”
and the answer given as
” Impairment loss — (25) ”
Could anyone please explain to me why the value of Impairment loss is (25) ?
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hi , i got the answer , it was in Ask the Tutor…
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