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Question 21 (Total 10 marks) A company has seven assets (labelled 1 to 7) for which there are indications of possible impairment. The carrying amount, fair value less costs of disposal and value in use for each asset are as shown below. Carrying Amount Fair Value less costs of disposal Value in use S. $ Note: n/d= not determined Required: a. Calculate the amount of any impairment loss arising in relation to each asset. (Show Recoverable Amount) (7 marks) b. Briefly describe how impairment loss is determined. ( 1 mark) c. Briefly explain how you determined if there was an impairment loss for assets 4 and 6. (2 marks) Question 21 (Total 10 marks) A company has seven assets (labelled 1 to 7) for which there are indications of possible impairment. The carrying amount, fair value less costs of disposal and value in use for each asset are as shown below. Carrying Amount Fair Value less costs of disposal Value in use S. $ Note: n/d= not determined Required: a. Calculate the amount of any impairment loss arising in relation to each asset. (Show Recoverable Amount) (7 marks) b. Briefly describe how impairment loss is determined. ( 1 mark) c. Briefly explain how you determined if there was an impairment loss for assets 4 and 6. (2 marks)