Arrow Ltd has two cash generating units (CGUs) namely XB and PS. Following are the excerpt of its statement of financial position at 30 June 2020:

XB

PS

Land

$100 000

$100 000

Building

500 000

300 000

Accumulated depreciation - Building

(100 000)

(100 000)

Equipment

300 000

200 000

Accumulated depreciation - Building

(100 000)

(50 000)

Goodwill

100 000

50 000

Total non-current assets

$800 000

$500 000

a.Calculate the impairment loss for relevant assets and CGUs.

Provide the journal entry for any impairment loss at 30 June 2020