Question 1 Ahmed Al Balushi SAOG is planning to acquire Abdullah SAOG at a Purchase consideration of OMR 350,000. Below is the Extract of the Statement of Financial Position as at 31st December 2019; Non – Current Assets OMR Intangible Non - Current Asset Patent 21,000 Tangible Non- Current Asset Property, plant, and Equipment 215,500 Current Assets Inventories 89,750 Trade Receivable 42,750 Cash 22,500 Current Liabilities Trade Payable 53,750 Bank over draft 12,000 Non – Current Liabilities 8% bank loan 85,000 Based on the above information, A. You are required to calculate the value of goodwill for Abdullah SAOG as at 31st Dec 2019? In the year 2020, Ahmed Al Balushi has identified the implied goodwill is OMR 85,000. B. Calculate the value of good will to be impaired? C. Discuss the 2 types of Intangible assets with suitable examples?
Question 1 Ahmed Al Balushi SAOG is planning to acquire Abdullah SAOG at a Purchase consideration of OMR 350,000. Below is the Extract of the Statement of Financial Position as at 31st December 2019; Non – Current Assets OMR Intangible Non - Current Asset Patent 21,000 Tangible Non- Current Asset Property, plant, and Equipment 215,500 Current Assets Inventories 89,750 Trade Receivable 42,750 Cash 22,500 Current Liabilities Trade Payable 53,750 Bank over draft 12,000 Non – Current Liabilities 8% bank loan 85,000 Based on the above information, A. You are required to calculate the value of goodwill for Abdullah SAOG as at 31st Dec 2019? In the year 2020, Ahmed Al Balushi has identified the implied goodwill is OMR 85,000. B. Calculate the value of good will to be impaired? C. Discuss the 2 types of Intangible assets with suitable examples?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 1
Ahmed Al Balushi SAOG is planning to acquire Abdullah SAOG at a Purchase consideration of OMR 350,000. Below is the Extract of the
| Non – Current Assets | OMR |
| Intangible Non - Current Asset | |
| Patent | 21,000 |
| Tangible Non- Current Asset | |
| Property, plant, and Equipment | 215,500 |
| Current Assets | |
| Inventories | 89,750 |
| Trade Receivable | 42,750 |
| Cash | 22,500 |
| Current Liabilities | |
| Trade Payable | 53,750 |
| Bank over draft | 12,000 |
| Non – Current Liabilities | |
| 8% bank loan | 85,000 |
Based on the above information,
A. You are required to calculate the value of
In the year 2020, Ahmed Al Balushi has identified the implied goodwill is OMR 85,000.
B. Calculate the value of good will to be impaired?
C. Discuss the 2 types of Intangible assets with suitable examples?
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