1. ALTC Ltd have machinery with a carrying amount of $120,000.The fair value of the machinery is estimated to be $110,000.The costs of disposal are estimated to be $5,000 and the value-in-use is estimated to be $90,000. What is the value of the impairment loss?

$0 - there is no impairment

$10,000

$15,000

$30,000

2 Parent Ltd acquired the identifiable assets and liabilities of Subsidiary Ltd for $134,000. The items acquired, stated at fair value, are:Plant $72,000;Inventories $24,000;Accounts Receivable$18,000;Patent$10,000.The difference on acquisition is:

Gain on Bargain Purchase $10,000

Gain on Bargain Purchase $16,000

Goodwill $10,000

None of the above