IMPAIRMENT losses!! guYs need help

[Sahar_M]

I am stuck with this prob . . . unfortunately cant find a book to look up the solution [)] and on top of that notes taken in class ant making any sense. [(]
the solution is there in the CA book

Q. what is the treatment for <b>impairment Losses</b> . . . both the <u>cost(benchmark)</u> and <u>Allowed method(GRV and NRV methods)</u>
entries needed [D]


thanks

[Sahar_M]

<b>oh!forgot [D] the problem is

Bought Asset at 100,000 on 1Jan 2001
Scrap value nil
straight line dep of 10%/annum.
On 1 Jan 2002 the value of the asset is 90,000.

need the entries for the <u>GRV and NRV.</u></b>