At the and of $2023,$ Concord Corporation owns a licence with a ramaining life of $10$ years and a carrying a mount of $$512,000.$

Concord expacts undiscounted future cash flows from this licance to total $$517,400.$ The licance's fair value is $$407,600$ and disposal

costs are sstimated to be nil. The licence's discounted cash flows $($that is$,$ value in uss$)$ are astimated to be $$457,400.$ Concord

prsparss financial stataments in accordance with IFRS.

Your answer is corract.

Determine if the licence is impairsd at the end of $2023.$

Thelicance

at the end of $2023.$

Prapara any ralated entry that is nacsssary. $($Credit account titles are outomatically indented when the amount is entered. Do not indent

manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List debit entry before credit entry$)$

Account Titles and Explanation

Debit

Credit

Loss on lmealomant

Aceumulatad Impairment Loase$-$ Uosencesa

eTextbook and Medla

Llst of Accounts

Your answer is partially corract.

Assume the recovarable amount is calculated to be $$429,500$ at the end of $2024.$ Determine if the licence is impairsed at the end

of $2024.$

The licance $,$ at the end of $2024.$

Prapare any ralatad entry that is necessary. $($Credit account titles are outomatically indented when the amount is entered. Do not indent

manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry$)$

Account Titles and Explanation

Debit

Credit

No Entry

$1$

eTextbook and Medla

List of Accounts