Applying IFRS, Wheaton would record the following entry
a. Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,000,000
Apartment Building (New Valuation) . . . . . . . . . . . . . . . . . . . .10,000,000
Loss on Impairment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,000,000
Apartment Building (Acquisition Cost) . . . . . . . . . . . . . . . . . . . . . . . . . 40,000,000
b. Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000,000
Apartment Building (New Valuation) . . . . . . . . . . . . . . . . . . . .10,000,000
Loss on Impairment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,000,000
Apartment Building (Acquisition Cost) . . . . . . . . . . . . . . . . . . . . . . . . . 40,000,000
c. Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000,000
Apartment Building (New Valuation) . . . . . . . . . . . . . . . . . . . 11,000,000
Loss on Impairment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,000,000
Apartment Building (Acquisition Cost) . . . . . . . . . . . . . . . . . . . . . . . . . 40,000,000
d. Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000,000
Apartment Building (New Valuation) . . . . . . . . . . . . . . . . . . . 12,000,000
Loss on Impairment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,000,000
Apartment Building (Acquisition Cost) . . . . . . . . . . . . . . . . . . . . . . . . . 40,000,000
e. Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000,000
Apartment Building (New Valuation) . . . . . . . . . . . . . . . . . . . 12,200,000
Loss on Impairment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17,800,000
Apartment Building (Acquisition Cost) . . . . . . . . . . . . . . . . . . . . . . . . . 40,000,000
E
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