Vision Ltd acquired all the assets and liabilities of Hazel Ltd on 1 January 2018. Vision Ltd's activities were run through three separate businesses, namely Sandstone Unit, the Sapphire Unit and the Silverton Unit. These units are separate cash-generating units.

Vision Ltd allowed unit managers to effectively operate each of the units, but certain central activities were run through the cooperate office. Each unit were allocated a share of the goodwill acquired, as well as a share of the corporate office. At 31 December 2018, the assets allocated to each unit were as follows:

Sandstone $ Sapphire $ Silverton $

Factory 820 750 460

Accumulated depreciation (420) (380) (340)

Land 200* 300** 150*

Equipment 300 410 560

Accumulated depreciation (60) (320) (310)

Inventory 120* 80* 100*

Goodwill 40 50 30

Corporate property 200 150 120

*these assets have carrying amount less than fair valve less costs to sell.

**this asset has a fair valve less costs to sell of $290.

Vision Ltd determined the valve in use of each of the business units at 31 December 2018.

Sandstone $ 1100

Sapphire 900

Silverton 800

Required:

Using IAS 36 to answer the following questions

i)Calculate the amount of the impairment loss, if any, for all divisions.[6Marks]

ii)Show the allocation of any impairment loss to all impaired divisions.[8 Marks]

iii)Prepare the journal entries required at 31^st December 2018 to account for any impairment losses. [6 Marks]