Mitch Ltd has determined that its fine china division is a CGU. The carrying amounts of the

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Mitch Ltd has determined that its fine china division is a CGU. The carrying amounts of the assets at 30 June 2022 are as follows.

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Mitch Ltd calculated the recoverable amount of the division to be $510 000.

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Provide the necessary journal entries for the impairment loss.

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Financial Reporting

ISBN: 9780730396413

4th Edition

Authors: Janice Loftus, Ken Leo, Sorin Daniliuc, Belinda Luke, Hong Nee Ang, Mike Bradbury, Dean Hanlon, Noel Boys, Karyn Byrnes

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