ABC Pty Ltd reported the following information in its statement of financial position at 30 June 2020

Plant$120,000Accumulated depreciation - plant(25,000)Intangible assets55,000Accumulated amortisation(20,000)Land55,000Total non-current assets185,000Cash10,000Inventories30,000Total current assets40,000Total assets225,000Liabilities30,000Net assets195,000At 30 June 2020, ABC Ltd analysed the internal and external sources of information that would indicate deterioration in the worth of its assets. It determined that there were indications of impairment. ABC calculated the recoverable amount of the assets to be $190,000.

Required

A.Calculate the impairment loss(1 mark)

B.Allocate the impairment loss to the different assets(5.5 marks)

C.Prepare the journal entry for any impairment loss at 30 June 2020(1 Mark)

This is Answer, i want to know how to calculate B and C. Can you explan for me

A.Impairment loss = Carrying amount of assets - Recoverable amount

Impairment loss = $225,000 - $190,000 = $35,000

B.

Carrying amount. Proportion. Allocation of loss Net carrying amount

Plant 95,000 95/185 17,973 77,027

Intangible 35,000 35/185 6,622 28,378

Land 55,000 55/185 10,405 44,595

185,000 100% 35,000

C. Account name Debit Credit

Impairment loss 35,000

Accumulated depreciation and

impairment loss - Plant 17,973

Accumulated amortisation and

impairment loss - Intangible 6,622

Land 10,405