Presented below are two independent cases related to available-for-sale debt investments. Case 1 Case 2 Amortized cost $37,020 $101,200 Fair value 27,060 110,650 Expected credit losses 21,600 93,050 For each case, determine the amount of impairment loss, if any. (If no loss, please enter 0. Do not leave any fields blank.) Case 1 Impairment Loss $ Case 2 Impairment Loss $

Case 1 = $9,960

Case 2 = No impairment

Explanation:

Impairment loss arises when the fair value of an asset is less than the carrying value / amortized value of the asset.

                                        Case 1    Case 2

Amortized cost                $37,020  $101,200

Fair value                         $27,060  $110,650

Expected credit losses   $21,600   $93,050

Case 1

Impairment loss = Amotized cost - Fair value = 37,020 - 27,060 = $9,960

Cash 2

In this case the fair value is more than the amortized cost. There is no impairment in this case.

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