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Pearl Landscaping Limited has determined that its lawn maintenance division is a cash-generating unit under IFRS. The carrying amounts of the division's assets at December 31, 2017, are as follows:
Land $39,000
Building $68,000
Equipment $45,000
Trucks: $33,000
Total: $185,000
The lawn maintenance division has been assessed for impairment and it is determined that the division's value in use is $173,000, fair value less costs to sell is $140,000, and undiscounted future net cash flows is $209,000.
Determine if the cash-generating unit is impaired and prepare the journal entry, if any, to record the impairment at December 31, 2017, assuming that none of the individual assets in the division has a determinable recoverable
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Your responses must be 3-4 sentences long each and represent "active communication."
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