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Hooper ltd reported the following information in its draft statement of financial position at 30 June 2020 Cash 110,000 Inventory 396000 Plant 1, 100,000 Intangible
Hooper ltd reported the following information in its draft statement of financial position at 30 June 2020 Cash 110,000 Inventory 396000 Plant 1, 100,000 Intangible Asse 440,000 Land 660,000 Goodwill 110,000 Total Assets- 2,816,000 Liabilities: 330,000 Equity; 2486000 At 30 June, Hooper Ltd analysed the internal and external sources of information and determined that there were indications of impairment. Pallas Ltd calculated the recoverable amount of total assets to be $1,265, 000. Required: Provide the journal entry of any imoairment loss at 30 June 2020
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