Coronado Landscaping Limited has determined that its lawn maintenance division is a cash-generating unit under IFRS. The carrying amounts of the divisions assets at December 31, 2017, are as follows:

Land		$26,000
Building		58,000
Equipment		34,000
Trucks		16,000
		$134,000

The lawn maintenance division has been assessed for impairment and it is determined that the divisions value in use is $122,000, fair value less costs to sell is $89,000, and undiscounted future net cash flows is $158,000.

Determine if the cash-generating unit is impaired and prepare the journal entry, if any, to record the impairment at December 31, 2017, assuming that none of the individual assets in the division has a determinable recoverable amount.

Answer? please explain

Account Titles Debit Credit

and part 2

Practice Question 7 A change in the estimates of the expected pattern of consumption of an asset's benefits, useful life, and residual value will require adjustments to depreciation expense related to that asset. Which of the following is the correct treatment of an estimate change? The company should go back and "correct" its records. The company should make a "catch-up" adjustment for any accumulated difference The company should account for a change in estimate prospectively. O The company should not make any change to its records; the original estimate must be used