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QUESTION 2: HURON LTD Huron Ltd has identified on indication of impairment and is conducting an impairment review. The carrying amount of cosh-generating unit is as follows on 31 Dec, 2021 Goodwill 900.000 Property 2,000,000 Plant and equipment 1,500,000 Computers 600,000 Patents 300,000 Net current assets (net 450,000 realizable value) 5.750,000 The whole of the company is considered to be a single cash-generating unit (CGU). If a company continues its operations, it is estimated to receive 950,000 net cash-flows annually at the end of the year for the duration of next 4 years. The discount rate is calculated to be 7% Fair value less cost to sell for CGU is estimated to be 3,050,000 The net realizable value of the property is 1,300,000 only. For computers, only half of the value can be recovered. Net Current Assets are recovered in full. Required Calculate whether en impairment loss has occurred and it so, prepare a revised schedule for Venus Lad os at 31 Dec 2018. Show your workings fully clearly showing impairment allocation and revised carrying velues (30 marks)