IFRS 5

A machinery with a carrying amount of $20,000 is classified as held for sale in December 20X6. Its fair value less costs to sell was estimated as $18,000 and it is sold for $16,500 on 15 February 20X7. The 20X6 financial statements are authorised for issue by the board on 15 March 20X7. The company accountant has recognised the machinery in the SOFP at $ 18000 and is of the opinion that as the sale took place the following year it should not impact 20X6 financial statements. He is also concerned that this may reduce the current year’s profit.

Answer :
In accordance with IAS10 this will be treated as an adjusting event as it provides evidence of conditions that existed at the end of the reporting period. The machine should be measured at $16,500 as a held for sale asset in the 20X6 financial statements. This is also in compliance with IFRS 5 which states that for Assets Held for Sale must be measured at lower of CV and FV less Cost to sell and an impairment loss ($18,000 – $16,500 = $1500) must be recognised to SOPL

My question : i am confused why the machine is measured at 16500, not 18000.
I thought we need to compare ca and fv less cts… so i take ca 20k then compare with fv less cts 18k. Impairment loss is 2k. But I am unsure about the 16500.

When we dispose it, we should recog gain or loss right?