Brenoval acquired planning software on 1 January 20X1 for 120,000, available for use on that date and amortised on a straight-line basis over 8 years, with no residual value. It sells the software on 30 September 20X3 for 70,000, with no costs of disposal and without prior classification as held for sale (IFRS 5). Its reporting date is 31 December. Calculate the carrying amount at the date of disposal and the result on disposal.
- Acquisition cost of the software
- 120,000
- Useful life
- 8
- Selling price
- 70,000