$14$

A company has the following assets in a CGU, including goodwill that has been attributed to it:

Goodwill: $$140,000$

Land: $$650,000$

Building: $$1,118,000$

Equipment $$832,000$

$10$

points

Assume that due to a change in the competitive environment, the fair value less costs of disposal of the CGU is now estimated to be $$2,340,000.$ The present value of future cash flows is estimated to be $$2,300,000.$

$00$:$39$:$30$

Required:

Prepare the journal entry to record the impairment under IFRS. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$

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$\backslash$table$[[$No$,$Transaction,,Debit:,Credit$],[1,1,$Impairment loss,,$],[,,$Land,,$],[,,$Building,,$],[,,$Equipment,,$]]$