Quebec Pulp and Paper (QPP) is an IFRS reporting company that uses the cost model for recording all assets. QPP has plant and equipment that have been evaluated for impairment periodically in response to changing conditions in the industry. They were purchased in 2008 for $150 million (plant) and $84 million (equipment). As of the acquisition date, the plant had an estimated useful life of 25 years and the equipment 12 years. QPP uses the straight-line depreciation method and recorded a full year of depreciation in the year of acquisition. The company has a December 31 year-end.

At the end of 2012, QPP wrote down the plant and equipment for impairment due to the decline in prices of newsprint and other paper products. This was the first time either asset had been impaired. At this date the following information was known:

in million $	Plant	Equipment
Fair value	$120	$44
Undiscounted cash flows	200	50
Discounted cash flows	105	39
Costs to sell	10	2

In December 2013, the company overhauled its production process. In doing so, it expanded the plant at a cost of $9.5 million and improved its equipment with new technology at a cost of $6 million.

At the end of 2015, the company re-evaluated the impairment of its plant and equipment. The following information was available at that date

in million $	Plant	Equipment
Fair value	$109	$29
Undiscounted cash flows	180	40
Discounted cash flows	125	32
Costs to sell	10	2

Required:

Prepare all journal entries necessary from 2012 to 2015. Show all supporting computations.