To obtain : Whether the goodwill is impaired or not. Given information: Fair value of assets including goodwill is $2,000,000.

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Answer 1

Question

Chapter 12, Problem 12.9E

a.

To determine

To obtain: Whether the goodwill is impaired or not.

Given information:

Fair value of assets including goodwill is $2,000,000.

b.

To determine

To obtain: Whether the goodwill is impaired or not.

Given information:

Fair value of assets including goodwill is $1,608,000.

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complete the following ttable attached - the main items listed should be , Balance , service cost , interest expense , interest revenue , contributions , benefits , asset loss/gain , liability loss / gain , Journal entry , accumulated OCI , then ending balance . The info for the question is - FlagStaff Ltd has a defined benefit pension plan for its employees. The company is considering introducing a defined benefit contribution plan, which will be available to all incoming staff. Although the defined benefit plan is now closed to new staff, the fund is active for all employees who have tenure with the company. In 2020, the following actuarial report was received for the defined benefit plan: 2020/$ Present value of the defined benefit obligation 31 December 2019 18 000 000 Past Service Cost 4 000 000 Net interest ? Current service cost 600 000 Benefits paid 2 000 000 Actuarial gain/loss on DBO ? Present value of the defined benefit obligation 31 December 2020 21 000 000…

Answer 2

Question

Chapter 12, Problem 12.9E

a.

To determine

To obtain: Whether the goodwill is impaired or not.

Given information:

Fair value of assets including goodwill is $2,000,000.

b.

To determine

To obtain: Whether the goodwill is impaired or not.

Given information:

Fair value of assets including goodwill is $1,608,000.

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Answer 3

Question

Chapter 12, Problem 12.9E

a.

To determine

To obtain: Whether the goodwill is impaired or not.

Given information:

Fair value of assets including goodwill is $2,000,000.

b.

To determine

To obtain: Whether the goodwill is impaired or not.

Given information:

Fair value of assets including goodwill is $1,608,000.

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Answer 4

Question

Chapter 12, Problem 12.9E

a.

To determine

To obtain: Whether the goodwill is impaired or not.

Given information:

Fair value of assets including goodwill is $2,000,000.

b.

To determine

To obtain: Whether the goodwill is impaired or not.

Given information:

Fair value of assets including goodwill is $1,608,000.

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Answer 5

Chapter 12, Problem 12.9E

a.

To determine

To obtain: Whether the goodwill is impaired or not.

Given information:

Fair value of assets including goodwill is $2,000,000.

b.

To determine

To obtain: Whether the goodwill is impaired or not.

Given information:

Fair value of assets including goodwill is $1,608,000.

Answer 6

Chapter 12, Problem 12.9E

a.

To determine

To obtain: Whether the goodwill is impaired or not.

Given information:

Fair value of assets including goodwill is $2,000,000.

Answer 7

Chapter 12, Problem 12.9E

a.

To determine

To obtain: Whether the goodwill is impaired or not.

Given information:

Fair value of assets including goodwill is $2,000,000.

Answer 8

b.

To determine

To obtain: Whether the goodwill is impaired or not.

Given information:

Fair value of assets including goodwill is $1,608,000.

Answer 9

b.

To determine

To obtain: Whether the goodwill is impaired or not.

Given information:

Fair value of assets including goodwill is $1,608,000.

Answer 10

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Answer 11

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Answer 21

Ch. 12 - Prob. 12.1Q Ch. 12 - Can firms group all property, plant, and equipment...Ch. 12 - Prob. 12.3Q Ch. 12 - Prob. 12.4Q Ch. 12 - Do firms follow the same steps for impairment...Ch. 12 - Prob. 12.6Q Ch. 12 - Prob. 12.7Q Ch. 12 - Prob. 12.8Q Ch. 12 - Under IFRS, if a firm recovers an impairment loss...Ch. 12 - Under IFRS, when do firms test plant assets and...

To obtain : Whether the goodwill is impaired or not. Given information: Fair value of assets including goodwill is $2,000,000.

To obtain: Whether the goodwill is impaired or not. Given information: Fair value of assets including goodwill is $2,000,000.

To obtain: Whether the goodwill is impaired or not. Given information: Fair value of assets including goodwill is $1,608,000.

Chapter 12 Solutions

To obtain: Whether the goodwill is impaired or not.

Given information:

Fair value of assets including goodwill is $2,000,000.

To obtain: Whether the goodwill is impaired or not.

Given information:

Fair value of assets including goodwill is $1,608,000.