CGU Impairment

1. A cash generating unit has been assessed for impairment and determined an impairment loss of taka 12,000. The carrying amounts of the assets were as follows:

Buildings 500,000
Equipment 300,000
Land 250,000
Fittings 150,000

Fair value less cost to sell of the assets was as follows:

Buildings 497,000
Equipment 298,000
Land 245,000
Fittings 148500
Give the journal entries to reflect the recognition of impairment loss.
Suppose remaining economic life of Building, equipment and fittings were 10, 8 and 5 years respectively with zero salvage value. Company follows straight line method of deprecation. At the end of next year there is a reversal of impairment loss of taka 5000. Allocate the reversal assuming that individual recoverable amount of the unit can not be determined.