Calculate and allocate impairment loss to individual asset

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Advanced Institute Limited operates several external degree programs and has conducted an impairment test on its cash-generating unit in respect of its advanced degree program session.

While Advanced Institute Limited estimates that the recoverable amount of the session is around $1,500 million, the carrying amounts of the session's assets are as follows:

Carrying amount $ million Goodwill. . . . . . . . . . . . . . . . . . . .200
Property, plant and equipment, at depreciated cost . . . . . . 550
Intangible assets, at amortised cost. . . . . . . 400
Investment property, at fair value . . . . . . . . . . 300
Financial assets, at fair value . . . . . . . . . . . . . . 170
Trade receivables, at amortised cost. . . . . . . 300

problem 1: Calculate and allocate the impairment loss to individual assets and suggest journal entries for Advanced Institute Limited

Reference no: EM132791422

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