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  3. grouper corp. a mining company, owns a significant

Grouper Corp. a mining company, owns a significant mineral deposit in a northern territory. Grouper...

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Accounting

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Grouper Corp. a mining company, owns a significant mineral deposit in a northern territory. Grouper prepares financial staternents in accordance with IFRS. Included in the asset is a road system that was constructed to give company personnel access to the mineral deposit for maintenance and mining activity. The road systern cannot be sold separately and separate cash flow information is not The machinery's value in use has been assessed at $4,700,000 while the fair value less costs to sell is $4,000,000. With respect to the. mine, the value in use is $8,900,000 while falr value less costs to sell is $9,140,000. (b) Detcunde the machinery and the mine are impaired and prepare the joumal entries, if any, to record the impairment at June 30 . Entry" for the account tities and enter Ofor the amounts List all dehit entrions. is

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