Gali Ltd has determined that its fine china division is a CGU
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:
|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.