Refuge Limited operates a unit that suffered a very significant drop in revenue due to the failure of its technology on 1 January 2019. The following carrying values were recorded in the books immediately prior to the impairment: $M Goodwill 60 Technology 40 Trade marks 20 Machinery 150 Land and Buildings 200 Other Net Assets 30 The recoverable value of the unit is estimated at $320 million. The technology is considered worthless, following its failure and trademarks can be disposed of on the market at January 2, 2019 for $5m. The other net assets include inventory, receivables and payables. It is considered that the book value of other net assets is a representation of its net realizable value. 4

REQUIRED: 1. Calculate the impairment on 1 January 2019. (2 marks) 2. Show how the impairment is distributed among the assets of the Cash Generating Units, CGU (based on IFRS 3). (14 marks) NB: round off to the nearest dollar.

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