A company has the following assets in a CGU: Land: $125,000 ...
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A company has the following assets in a CGU: Land: $ Building: $ Equipment: $ Assume that due to a change to the political landscape, the fair value less costs of disposal of the CGU is now estimated to be $ The present value of future cash flows is estimated to be $ There is no impairment at the individual asset level. Required: Prepare the journal entry to record the impairment under IFRS. If no entry is required for a transactionevent select No journal entry required" in the first account field. Prepare the journal entry to record the impairment loss
A company has the following assets in a CGU:
Land: $
Building: $
Equipment: $
Assume that due to a change to the political landscape, the fair value less costs of disposal of the CGU is now estimated to be $ The present value of future cash flows is estimated to be $ There is no impairment at the individual asset level.
Required:
Prepare the journal entry to record the impairment under IFRS. If no entry is required for a transactionevent select No journal entry required" in the first account field.
Prepare the journal entry to record the impairment loss
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