Question: 5 (15 marks) ABC Ltd has a printing process comprising four separates but highly interdependent assets. The printing machinery has a combined carrying value of

5 (15 marks) ABC Ltd has a printing process comprising four separates but highly interdependent assets. The printing machinery has a combined carrying value of $1 000 000, made up as follows: Building Equipment Land Fittings Total cash generating unit $120 000 $250 000 $320 000 $310 000 $ 1 000 000 It was determined that the value in use of the cash-generating unit, which is calculated at its present value, amounted to $820 000. The current fair value less costs to sell the entire unit is $650 000. Q5(a) Calculate and record the allocation of impairment loss against all assets. (10 marks) HYMY B I AX X" 22 66 X Q5(b) Prepare the necessary journal entries to record the impairment loss

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