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Gali ltd has determined that its fine china division is a

Question - Gali Ltd has determined that its fine china division is a CGU( Cash Generating Unit ). The carrying amounts of the assets at 30 June 2015 are as follows:

Account Carrying Amount

plant 385000

Equipment 89000

Fittings 56000

Inventory 24000

Goodwill 20000

Total CA 574000

Gali Ltd calculated the value in use of the division to be: 514000, If the fair value less costs of disposal of the plant is: 370472.

Required - Prepare the journal entry(ies) for any impairment loss occurring at 30 June 2015 including supporting calculations.

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Accounting Basics: Gali ltd has determined that its fine china division is a

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Accounting Basics: Gali ltd has determined that its fine china division is a

Reference No:- TGS02434205

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