The following is net asset information for the Dhillon Division of Klaus, Inc.:

The purpose of the Dhillon Division (also identified as a reporting unit or cash-generating unit) is to develop a nuclear-powered aircraft. If successful, travelling delays that are associated with refuelling could be greatly reduced, and operational efficiency would increase significantly.
To date, management has not had much success and is deciding whether a writedovm is appropriate at this time. Management has prepared the following estimates for the reporting unit or cash-generating unit:
1. Undiscounted future net cash flows is approximately $400 million.
2. Future value in use is approximately $385 million.
3. Sale of the unit would yield $346 million and selling costs would total 55 million.
Instructions
(a) Under ASPE, determine if there is any impairment and prepare any necessary entry on December 31, 2014.
(b) On December 31, 2015, it is estimated that the reporting unit's fair value has increased to $400 million. Under ASPE, prepare the journal entry, if any, to record the increase in fair value.
(c) Under IFRS, determine if there is any impairment and prepare any necessary entry on December 31, 2014.
(d) On December 31, 2015, it is estimated that the cash-generating unit's fair value has increased to $400 million. Under IFRS, prepare the journal entry, if any, to record the increase in fair value.

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NET ASSETS as of December 31, 2014 (In millions) Fair Value Excluding Goodwill Cash Accounts receivable Property, plant, and equipment (net) Goodwill Less: Notes payable Net assets Book Value $ 50 216 2,618 206 (2,700) $ 390 $ 50 216 2,760 (2,700)