accounting question - using cost method (impairment testing of non current assets)?

A

ash

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On 1st July 2007 Company A acquired land at cost of $1 Million
the Company made following estimates of the value of land:
net selling price value in use market value
30 June 2008 $900,000 $1050,000 $950,000
30 June 2009 $920,000 $900,000 $970,000

assume company A uses cost method for each year calculate the carrying amount and what would the journal entries be with regards to any adjustments
 
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