The questions are all about impairment of asset. kindly attached your solutions of your answer. Thank you.

Items 1 to 6 are based on the following : On January 1, 2019, the revaluation of Cooper Company shows the following : Machinery, cost P15,000,000; 10-year life, 4 years expired; Sound value P14,400,000. On December 31, 2021, 3 years after the revaluation, an impairment of the machinery is indicated and the recoverable amount (fair value) is P3,150,000. In 2022, there is a reversal of impairment related to the machinery. On December 31, 2022, the recoverable amount (fair value) is P3,600,000.

1. What is the piecemeal realization of revaluation surplus on December 31, 2019?

2. In recording the impairment loss on 12/31/21, what amount is debited to revaluation surplus?

3. In recording the impairment loss on 12/31/21, what amount is debited to Impairment loss?

4. What is the depreciation expense in 2022?

5. In recording the reversal of impairment on 12/31/22, what amount is credited to Revaluation surplus?

6. In recording the reversal of impairment on 12/31/22, what amount, if any, is credited to Gain on reversal of impairment?

Items 7 to 9 are based on the following : Robbins Company reported an impairment loss of P6,000,000 in the income statement for the year ended December 31, 2019. This loss was related to long-lived assets acquired on January 1, 2018 with cost of P30,000,000, useful life of 10 years and no residual value. On December 31, 2019, the entity reported the long-lived assets at P18,000,000 which is the fair value less cost of disposal on such date. On December 31, 2020, the company determined that the FVLCOD of the impaired long-lived assets had increased to P22,500,000. The straight-line depreciation is recorded for the impaired assets.

7. What is the impairment loss for the year ended December 31, 2019?

8. What is the depreciation for 2020?

9. What is the gain on reversal of impairment in 2020?

Items 10 to 12 are based on the following : Freeman Company determined that its Clooney division is a cash generating unit. The company calculated the value in use of the division to be P24,000,000. The assets of the CGU at carrying amount are as follows : Building P15,000,000; Equipment 9,000,000; Inventory 6,000,000. The entity has also determined that the fair value less cost of disposal of the building is P13,500,000. In recording the impairment,

10. What amount is credited to Accumulated depreciation-Building?

11. What amount is credited to Accumulated depreciation - Equipment?

12. What amount is credited to Inventory?