The Quintéra laboratory, which applies the cost model, sells for cash, for 150,000, a marketing authorisation dossier acquired for 360,000. At the date of sale, the asset carries 180,000 of accumulated amortisation and 40,000 of accumulated impairment losses. No costs of disposal are incurred. The sales director wants to present the price in revenue. Record the derecognition entry.
- Cost of the authorisation dossier
- 360,000
- Accumulated amortisation
- 180,000
- Accumulated impairment losses
- 40,000
- Selling price received
- 150,000