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Question - The carrying amounts of the assets of a cash-generating unit (CGU) on 31 December 2017 are as follows:
Goodwill - $ 300
Land - 1,700
Building - 1,100
Equipment - 1,300
Inventory - 500
Receivables - 700
Cash - 200
Total - $5.800
The fair value of the CGU is estimated to be $3,000 while the value-in-use (VIU) to be $3,300. The CGU has no liabilities.
Additional information:
Fair value less costs of disposal of receivables is $450. Fair value less costs of disposal of land is $1,500.
Required
(a) Determine whether the CGU is impaired.
(b) If the CGU is impaired, determine how any impairment loss shall be allocated among the assets of the CGU.
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