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Prepare the journal entryies for any impairment loss occurring at 30 June 2015 including supporting

The assignment must be typed, use Arial font, 12, to avoid plagiarism, make sure you do proper referencing, at least use 6 references, to be submitted the soft copy in Turnitin and hard copy in lecture Week 10. Please ensure you attach a KOI assignment cover sheet, with ID numbers and signed. Late assignments will be penalised, 10% deduction per day. Part A:1000 word short essay about the following: Impairment loss for Cash generating units excluding Goodwill 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 Patent 229000 building 53000 Fittings 33000 Inventory 14000 Goodwill 12000 Total CA 341000 Gali Ltd calculated the value in use of the division to be: 305000 If the fair value less costs of disposal of the Patent is: 220276 Required Prepare the journal entry(ies) for any impairment loss occurring at 30 June 2015 including supporting calculations.

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