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What amount of impairment loss should be allocated

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Reference no: EM132984981

Factor Company's cash-generating-unit has been assessed for impairment and it has been determined that the unit has incurred an impairment loss of P240,000. The carrying amounts of the assets were as follows:

Building P6,000,000
Equipment 2,000,000
Land 3,500,000
Fittings 2,500,000

Problem 1: The cash-generating unit has not recorded any amount of goodwill. If the fair value less cost to sell the building is P5,960,000, what amount of impairment loss should be allocated to the equipment?

Reference no: EM132984981

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