Buffalo Landscaping Limited has determined that its lawn maintenance division is a cash-generating unit under...
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Buffalo Landscaping Limited has determined that its lawn maintenance division is a cashgenerating unit under IFRS. The carrying amounts of the division's assets at December are as follows: Land $ Building Equipment Vehicles $ The lawn maintenance division has been assessed for impairment and it is determined that the the division's value in use is $ fair value less costs to sell is $ and undiscounted future net cash flows are $ Prepare the journal entry, if any, to record the impairment at December assuming that the division's only individual asset that has a determinable recoverable amount is the building, which has a fair value less costs to sell of $Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Do not round intermediate calculations. Round final answers to O decimal places, eg
Buffalo Landscaping Limited has determined that its lawn maintenance division is a cashgenerating unit under IFRS. The carrying amounts of the division's assets at December are as follows:
Land $
Building
Equipment
Vehicles
$
The lawn maintenance division has been assessed for impairment and it is determined that the the division's value in use is $ fair value less costs to sell is $ and undiscounted future net cash flows are $ Prepare the journal entry, if any, to record the impairment at December assuming that the division's only individual asset that has a determinable recoverable amount is the building, which has a fair value less costs to sell of $Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Do not round intermediate calculations. Round final answers to O decimal places, eg
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