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Please help me i will give good rating
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answerhappygod
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Please help me i will give good rating
Please help me i will give good rating
Poly Cuisine Sdn Bhd has been producing pastry and cakes in Melaka for many years. On January 2018, the carrying amount for a group of assets were as follows: Asset (b) Convections Oven Industry bakery mixer Digital mixer Goodwill Each of these assets does not produce its own cash flows and generate the business cash flow as a whole. All the assets, excluding goodwill are depreciated at 10% annually using reducing balance method. In 2020, several problems had caused all the assets to be less productive. Due to that, the production of pastry and cakes had dropped significantly, which affected cash flows. Additional information on 31 December 2020: (c) RM 120,000 60,000 40,000 40,000 1. Fair value would be RM120,000. 2. Cost to sell the assets were estimated RM4,000. 3. Value in use of these asset were estimated RM114,000 As an account clerk in Poly Cuisine Sdn Bhd you are required to: i. provide calculation of carrying amount, recoverable amount and impairment loss. Analyse the above case by preparing the ii. illustrate relevant journal entries. presentation statement of financial position Propose relevant diselesure in financial statements as at 31 December 2020 based on MFRS136.
Poly Cuisine Sdn Bhd has been producing pastry and cakes in Melaka for many years. On January 2018, the carrying amount for a group of assets were as follows: Asset (b) Convections Oven Industry bakery mixer Digital mixer Goodwill Each of these assets does not produce its own cash flows and generate the business cash flow as a whole. All the assets, excluding goodwill are depreciated at 10% annually using reducing balance method. In 2020, several problems had caused all the assets to be less productive. Due to that, the production of pastry and cakes had dropped significantly, which affected cash flows. Additional information on 31 December 2020: (c) RM 120,000 60,000 40,000 40,000 1. Fair value would be RM120,000. 2. Cost to sell the assets were estimated RM4,000. 3. Value in use of these asset were estimated RM114,000 As an account clerk in Poly Cuisine Sdn Bhd you are required to: i. provide calculation of carrying amount, recoverable amount and impairment loss. Analyse the above case by preparing the ii. illustrate relevant journal entries. presentation statement of financial position Propose relevant diselesure in financial statements as at 31 December 2020 based on MFRS136.