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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