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Peter owned 100% of the security of the equity share capital of Sharon, a wholly-owned subsidiary. The asset at the reporting date of Sharon were as follows:
Goodwill N$ 2 400 000
Buildings N$ 6000 000
Plant and equipment N$ 5 200 000
Other intangibles N$ 2000 000
Receivables and cash N$ 1 400 000
Point 1: On the reporting date a fire within one of Sharon's building led to an impairment review being carried out. The recoverable amount of the business was determined to be $9.8million. The fire destroyed some plant and equipment with a carrying value of 1.2 million and there was no option but to scrap it.
Point 2: The other intangibles consist of a licence to operate Sharon's plant and equipment. Following the scrapping of some of the plant and equipment a competitor offered to purchase the patent for $1.5 million. The receivable and cash are both stated at their realisable value and do not require impairment.
Question 1: Show how the impairment loss in Sharon is allocated amongst the assets
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