Solution-Calculate and allocate any impairment loss across

Calculate and allocate any impairment loss across the CGU

Assignment Help Accounting Basics

Reference no: EM133065278

Question - Danny Ltd reported the following assets in its statement of financial position at 30 June 2021:

Cash 11,000

Accounts receivable 40,000

Allowance for doubtful debts (9,000)

Inventories 54,000

Land 400,000

Buildings 1,175,000

Accumulated depreciation - buildings (200,000)

Plant 850,000

Accumulated depreciation - plant (375,000)

Goodwill 52,000

Danny Ltd undertook impairment testing and determined the recoverable amount of the assets, a cash generating unit (CGU), at 30 June 2021 to be $1,700,000.

Required - Calculate and allocate any impairment loss across the CGU. Prepare the necessary journal entry for impairment loss.

Reference no: EM133065278

Questions Cloud

Importance of international regime theory : Critically evaluate the importance of international regime theory in current times.

Learnscape-the new system : Bright Road Health Care system has an outdated health records system.The Board of Directors of Bright Road is considering two new electronic health record

Calculate miss valerie total price effect : Valerie wants to exercise and has a choice of going to an aerobics class, which costs $3 each time, or to the gym where she can work out with weight

What is the possibility that a high-risk borrow : A bank classifies borrowers as high risk and low risk. Only 15% of its loans are made to those in the high-risk category. Of all its loans, 5% are

Calculate and allocate any impairment loss across the CGU : Danny Ltd reported the following assets in its statement of financial position at 30 June 2021: Cash 11,000. Calculate and allocate any impairment loss

Do the risk analysis on sunk ship : Do the risk analysis on sunk ship?

Describe why making diagnosis : Describe why making a diagnosis is a critical part of a change management plan. Identify at least 3 current human capital management problems at AGC.

Illustrate how the linder theory of trade works : Illustrate how the Linder theory of trade works. Explain similarities and/or differences between the Linder model and Heckscher-Ohlin model.

Employment history : Consider your own employment history. Were there times you felt you did not receive the pay you felt you were entitled?

User Account

All Pages

Calculate and allocate any impairment loss across the CGU

Reference no: EM133065278

Reference no: EM133065278

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT