Calculate and allocate impairment loss to individual assets

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Question - 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.

Required - Calculate and allocate the impairment loss to individual assets and suggest journal entries for Advanced Institute Limited.

Reference no: EM132786291

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