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What is journal entry of NCA held for sale? and what does it mean “presented separately on the face of the statement of financial position”?
We need to remove it from TNCA and from Accumulated depreciation
Dr Asset held for sale with net carrying value
Dr Accumulated Depreciation
Cr TNCADr or Cr Asset held for sale to arrive at fair value
Cr or Dr statement of profit or lossIt’s shown as a separate line item within the asset section of the statement of financial position, neither long term nor (probably) short term
So somewhere between those two categories
OK?
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