Question: Please help me to answer. See the attached photo below. Thank you so much Problem 30-6 (IFRS) At the beginning of current year, Jazz Company

Please help me to answer. See the attached photo below. Thank you so much

Please help me to answer. See the attached photo
Problem 30-6 (IFRS) At the beginning of current year, Jazz Company has an operating division whose major industry is the manufacture of toy train. The toy train division is regarded as a cash generating unit. There is a declining interest in toy train because of the aggressive marketing of computer-based toys. The management measured the value in use of the toy train division at the current year-end at P3,600,000. The carrying amounts of the assets of the toy train division were: Building Inventory 2,000,000 Trademark 1,500,000 Goodwill 1,000,000 500,000 Required: 1. Determine the amount of impairment loss. 2. Allocate the impairment loss to the assets of the cash generating unit. 3. Prepare journal entry to record the impairment loss. Problem 30-7 (IFRS) Palpable Company has determined that the furniture division is a cash generating unit. The entity calculated the value in , use of the division to be P11,000;000. The entity has also determined that the fair value less cost of disposal of the building is P6,500,000. The carrying amounts of the assets are: 8,000,000 Building 4,000,000 Equipment 4,000,000 Inventory Required: 1. Determine the impairment loss. " Allocate the impairment loss to the assets of the cash generating unit. " Prepare journal entry to record the impairment loss

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