Bibek Chimoriya Part A:1000 word short essay about the following: When to undertake an Impairment test Part B: "Gali Ltd has determined that its fine china division is a CGU. The carrying amounts of the assets at 30 June 2015 are as follows: " Account Carrying Amount Land 101000 Equipment 23000 Building 14000 Inventory 6000 Goodwill 5000 Total CA 149000 Gali Ltd calculated the value in use of the division to be: 134000 If the fair value less costs of disposal of the Land is: 97341 Required Prepare the journal entry(ies) for any impairment loss occurring at 30 June 2015 including supporting calculation
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