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Find what amount would be charged to profit

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Reference no: EM132729548

Ramly Berhad acquired a non-current asset on 1 October 2009( ten year before 2019) at a cost of RM100,000 which has a useful life of ten years and a nil residual value. The asset had been correctly depreciated up to 30 September 2014. At that date the asset was damaged and an impairment review was perfomed. On 30 September 2014, the fair value of the asset less cost of disposal was RM30,000 and the expected future cash flows were RM8,500 per annum for the next five years. The current cost of capital is 10% and a five year annuity of RM1 per annum at 10% would have a present value of RM3.79

Problem 1: What amount would be charged to profit or loss for the impairment of this asset for the year ended 20 september 2014

a. RM30,000
b. RM20,000
c. RM32,215
d. RM17,785

Reference no: EM132729548

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