Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5-A-DAY is a chain of 12 fruit and veg stores. Each 5-A-DAY store is classified as its own cash-generating unit (CGU). 5-A-DAYs accounting department is

5-A-DAY is a chain of 12 fruit and veg stores. Each 5-A-DAY store is classified as its own cash-generating unit (CGU). 5-A-DAYs accounting department is conducting an impairment review of one of their CGUs. The assets of this particular CGU are detailed below. Goodwill: R60 000 Property: R200 000 Intangibles: R23 000 Equipment: R25 000 Other: R10 000 The impairment review has revealed that the fair value of the CGUs property is R180 000 and the net assets of the store as a whole are R210 000. Calculate the amounts that are allocated to impairments for other, intangibles, goodwill and property.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Tools for Business Decision Making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

5th Edition

9781118560952, 1118560957, 978-0470239803

More Books

Students also viewed these Accounting questions