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Calculate the impairment loss and allocate the impairment

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Reference no: EM132489416

A cash generating unit has the following assets

Cash 10,000 Inventory 60,000

Land 180,000 Patent 100,000

Goodwill 30,000 Vehicles 120,000

The assets have a recoverable amount of $450,000, of which $168,000 relates to land.

Required

Question a. Calculate the impairment loss.

Question b. Allocate the impairment loss among the relevant assets.

Question c. For the assets included in (2) above, indicate which losses can be reversed in future periods.

Reference no: EM132489416

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