Gali Ltd has determined that its fine china division is a CGU. The carrying amounts of the assets at 30 June 2015 are as follows:

Account Carrying Amount
Land $822,700
Patent $189,000
Building $119,000
Inventory $51,000
Goodwill $42,000
Total CA $1,223,700


Gali Ltd calculated the value in use of the division to be: $1,097,700
If the fair value less cost of disposal of the Land is: $792,141



Prepare the journal entry(ies) for any impairment loss occurring at 30 June 2015 including supporting calculations.

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