The carrying amounts of the assets of a CGU are as follows: £000 Goodwill 300 Patents 450 Lands & Buildings 800 Total 1,550 The recoverable amount of the CGU is £850,000. How much of the impairment loss should be allocated against lands and buildings? Select one: a. 400,000 b. 256,000 c. 0 d. 144,000

The carrying amounts of the assets of a CGU are as follows: £000 Goodwill 300 Patents 450 Lands & Buildings 800 Total 1,550 The recoverable amount of the CGU is £850,000. How much of the impairment loss should be allocated against lands and buildings? Select one: a. 400,000 b. 256,000 c. 0 d. 144,000

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter7: Deductions And Losses: Certain Business Expenses And Losses

Section: Chapter Questions

Problem 23CE

See similar textbooks

Similar questions

Enter Co. determined the following information for the purpose of testing its investment in associate for impairment: Carrying amount of investment (including ₱100,000 goodwill) 1,600,000 Fair value less costs of disposal (FVLCD) 1,440,000 Value in use (VIU) 1,380,000 How much is the impairment loss? 160,000 b. 220,000 c. 60,000 d. 0
I need help with that question given.
Bovine Ltd. has the following assets in a CGU: Carrying Value (thousands) Equipment $ 861 Building 2,009 Land 1,170 Goodwill 200 $ 4,240 The recoverable amount has been determined to be $3,340. The separate fair value less costs of disposal for land is $1,070; no other assets could be separately valued.Required:1. Allocate the impairment loss to individual assets and calculate the net book value of each asset after the impairment. (Enter answers in thousands of dollars.) Bovine Ltd. has the following assets in a CGU: Carrying Value (thousands) Equipment $ 861 Building 2,009 Land 1,170 Goodwill 200 $ 4,240 The recoverable amount has been determined to be $3,340. The separate fair value less costs of disposal for land is $1,070; no other assets could be separately valued.Required:1. Allocate the impairment loss to individual assets and calculate the net book value of each asset after…
Bovine Ltd. has the following assets in a CGU: Carrying Value (thousands) Equipment $ 861 Building 2,009 Land 1,170 Goodwill 200 $ 4,240 The recoverable amount has been determined to be $3,340. The separate fair value less costs of disposal for land is $1,070; no other assets could be separately valued.Required:1. Allocate the impairment loss to individual assets and calculate the net book value of each asset after the impairment. (Enter answers in thousands of dollars.) 2. Assume that the recoverable amount recovered to $3,540 in the subsequent year. Allocate the impairment reversal to individual assets and calculate the net book value of each asset after the impairment. The separate fair value less costs of disposal for land remains at $1,070. There is no concern with a ceiling value when assigning the recovery to building or equipment. (Enter answers in thousands of dollars.)
Oo. 68. Subject ;- Account
please need help about this question
An asset group is being evaluated for an impairment loss. The following financial information is available for the asset group: Carrying Value=100,000,000 Sum of the undiscounted cash flows= 95,000,000 Fair value= 80,000,000 Carrying Value= $100,000,000 What is the value of the impairment loss?
Calculate and allocate basis for the following problems. 1. A property is acquired for a purchase price of $230,000 cash plus acquisition costs of $20,000. The tax assessment for this property is as follows: Assessed Value Land Improvements Total assessments $40,000 160,000 $200,000 a. What is the acquisition basis for this property? b. What is the allocation for land? c. What is the allocation for improvements?
Sh7
On December 31, 20x1, Entity A determines that its building is impaired. The following information is gathered: Building Accumulated Depreciation Fair Value less Cost of Disposal 1,000,000 200,000 600,000 580,000 Value in Use How much is the impairment loss?
What are the maximum postponed gain or loss and the basis for the replacement property for the following involuntary conversions? If an amount is zero, enter "0". Property Type of Conversion Amount Realized Adjusted Basis Amount Reinvested a. Drugstore (business) Casualty $160,000 $130,000 $110,000 b. Apartments (investment) Condemned 100,000 125,000 175,000 c. Grocery store (business) Casualty 400,000 300,000 450,000 d. Residence (personal) Casualty* 16,000 18,000 17,000 e. Vacant lot (investment) Condemned 240,000 160,000 220,000 f. Residence (personal) Casualty* 20,000 18,000 19,000 g. Residence (personal) Condemned 18,000 20,000 26,000 h. Apartments (investment) Condemned 150,000 100,000 200,000 * Casualty occurred in a Federally declared disaster area. Adjusted Basisof Old Machine Realized Gain/Realized Loss PostponedAmount Basis…
16. Determine the amount of the total amortization cost base, assuming (1) no exclusions from the amortization base, and (2) all possible costs are excluded from the amortization base. Unproved property-cost $80,000, amount impaired $20,000 (if excluded) Unproved property-abandoned- -cost $30,000, no impairment Unproved property-found proved reserves- cost $18,000, no impairment Unproved property purchased- cost $50,000 Wells-in-progress on unproved property $100,000 Well completed on unproved property dry-hole cost $250,000 Total (1) Amount |(2) Amount― no exclusions all exclusions ?