Reference no: EM132675019
At year-end, Bale Company has a CGU with the following assets at carrying amount :
Inventory 600,000;
Accounts receivable 900,000;
Plant and equipment 18,000,000;
Accumulated depn 7,800,000;
Patent 2,550,000;
Goodwill 300,000.
The accounts receivable are regarded as collectible and the inventory has a fair value less cost of disposal which is greater than the carrying amount. The patent has FVLCOD of P2,250,000. At year end, the entity determined the value in use and FVLCOD of the CGU at P12,150,000 and P12,000,000 respectively.
Problem 1: What is the carrying amount of the plant and equipment after recording the impairment loss?
Problem 2: What is the impairment loss allocated to patent?
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