help me quick plss solve it on excel Problem 1 (16 marks) Radical...
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help me quick plss solve it on excel
Problem 1 (16 marks) Radical Inc has a cash generating unit that requires testing for impairment with the following information available: Carrying Value $220,000 1,750,000 Land Building Equipment 680,000 Furniture and Fixtures 170,000 Goodwill 265,000 Fair Value $580,000 1,650,000 520,000 n/a n/a The residual value of the building and equipment is $400,000 and $50,000 respectively. The cost to sell would be 6% of fair value and the appropriate discount rate for the CGU is 5%. The projected cash flows over the 10-year remaining useful life of the CGU are as follows: Year 1 Year 4 = $300,000 Year 5 onwards = $320,000 Required: Assuming Radical is a corporation that reports under IFRS, calculate the impairment loss for the CGU at year-end. For the CGU, allocate the impairment loss, if any to the CGU's assets and then record the journal entry
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