Ireland IFRS5 Homework Help - Adjustment for Financial Statements

[AccountingStudent53480]

The question is in the pictures above.. I'm really confused how to proceed with this adjustment. IFRS5 says that sale must be highly probably, and if its not sold by the end of the financial period it is not highly probable, and therefore the asset shouldnt be classified as held for sale. Is this true here? Should I no longer classify the asset as held for sale as it wasn't sold?

Thank you for any help

 

[Fidget]

IFRS 5 doesn't say that the asset classified under it has to be sold by the end of the financial period. It says that the asset classified as held for sale is expected to be sold within 12 months of the date that it is classified as held for sale. It's nothing to do with the year end reporting date.