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IN the statement of financial posiition at 30 june 2020,Arrow ltd recorded the following assests(note,arrow...

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Accounting

IN the statement of financial posiition at 30 june 2020,Arrow ltd recorded the following assests(note,arrow ltd acccounts for all non-current assests under the cost mode;)

patetnt $240,000

land 300,000

plant 620,000

accumulated depreciation (340,000)

inventory 180,000

cash and cash equivalents 120,000

recivables 100,000

machinery 800,000

accumulated depreciation (240,000)

the recoverable amount of the entity was calculated to be $1660,000. the fair value less cost of disposal of the land was $280,913

Prepare the analysis and necessary journal entry,with narrations,for any impairment loss at 30 june 2020.show all workings

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