Depreciable asset - Building $550,000 Accumulated depreciation (290,000) Carrying value $250,000 Undiscounted future cash flows from use of asset $260,000 Value in use 210,000 Fair value 240,000 Costs of disposal (11,000)

Indefinite Life Intangible Asset - Carrying value $110,000 Fair value 70,000 Direct costs to dispose of the trademark (10,000) Value in use 90,000

Prepare any impairment loss journal entries required under IFRS and under ASPE.