Tufnell identified two manufacturing units, North and South, which it had decided to dispose of in a single transaction. These units comprised non-current assets only. One of the units, North, had been impaired prior to 30 September 20X7 and it had been written down to its recoverable amount of $35 million.

Ryder 12/5

The company acquired a property on 1 November 20X4 which it intended to sell. The property was obtained as a result of a default on a loan agreement by a third party and was valued at $20 million on that date for  accounting purposes which exactly offset the defaulted loan. The property is in a state of disrepair and Ryder intends to complete the repairs before it sells the property. The repairs were completed on 30 November 20X5. The property was sold after costs for $27 million on 9 December 20X5.