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On january 1, 2008, line corporation acquired all of the common stock of staff company for 300,000 on the date, staff's identifiable assets had a fair value of 250,000. the assets acquired in the purchase of the staff are considered to be separate reporting unit of line corporation. the carrying value of staff's investment at december 31, 2008, is 310,000. the fair value of the net assets ( excluding goodwill) at the date is 220,000 and the fair value of the reporting unit is determined to be 260,000.
Required: 1) explain how goodwill is tested for impairment for a reporting unit. 2) determine the amount, if any, of impairment loss to be recognized at december 31, 2008.
Year 1 production nil. year 2 production 6000.3rd year 24000 4th year 60000 5th year 45000 prepare shortworkings accounts in the books of company for five years.
The machine would reduce labor and other costs by $67,000 per year. The company requires a minimum pretax return of 15% on all investment projects. The net present value of
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Investigate the steps involved in the preparation of an advance plan for the distribution of cash in a partnership liquidation to determine which step is the most difficult
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