Problem
On January 1, 2012, ABC purchased for EUR 240,000 a machine with an estimated useful life of 20 years and an estimated residual value of EUR O. ABC depreciates such machines on a straight-line basis. On January 1, 2015 an impairment review showed the machine's recoverable amount to be EUR 100,000 and its remaining useful life to be 10 years.
Task
1. Calculate the amounts to be included in the statement of comprehensive income for year 2015.
2. Calculate the amounts to be included in the statement of comprehensive income for year 2015 if the asset had been re-valued on January 1, 2013 to EUR 250,000, but with no change in the useful life at the date.