The following is net asset information for the Dhillon Division of Klaus Inc.:

NET ASSETS as at December 31, 2020 (in millions)
		Book Value			Fair Value Excluding Goodwill
Cash		$ 61			$ 61
Accounts receivable		225			225
Property, plant, and equipment (net)		2,636			2,816
Goodwill		208
Less: Notes payable		(2,613	)		(2,613	)
Net assets		$ 517

The purpose of the Dhillon Division (also identified as a reporting unit or cash-generating unit) is to develop a nuclear-powered aircraft. If successful, travelling delays that are associated with refuelling could be greatly reduced, and operational efficiency would increase significantly. To date, management has not had much success and is deciding whether a writedown is appropriate at this time. Management has prepared the following estimates for the reporting unit or cash-generating unit:

1.	Undiscounted future net cash flows are approximately $412 million.
2.	Future value in use is approximately $514 million.
3.	Sale of the unit would yield $344 million and selling costs would total $5 million.

Under ASPE, determine if there is any impairment and prepare any necessary entry on December 31, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Enter amounts in millions.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2020	enter an account title for the journal entry on December 31	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on December 31	enter a debit amount	enter a credit amount

SHOW LIST OF ACCOUNTS

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On December 31, 2021, it is estimated that the reporting units fair value has increased to $412 million. Under ASPE, prepare the journal entry, if any, to record the increase in fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Enter amounts in millions.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2021	enter an account title for the journal entry on December 31	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on December 31	enter a debit amount	enter a credit amount

SHOW LIST OF ACCOUNTS

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Under IFRS, determine if there is any impairment and prepare any necessary entry on December 31, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Enter amounts in millions.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2020	enter an account title for the journal entry on December 31	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on December 31	enter a debit amount	enter a credit amount

SHOW LIST OF ACCOUNTS

LINK TO TEXT

LINK TO TEXT

On December 31, 2021, it is estimated that the cash-generating units fair value has increased to $412 million. Under IFRS, prepare the journal entry, if any, to record the increase in fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Enter amounts in millions.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2021	enter an account title for the journal entry on December 31	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on December 31	enter a debit amount	enter a credit amount