Culvers Construction & Paving expanded its business by purchasing Alcott Maintenance, a division that provides road maintenance services. The division was purchased three years ago for $3,127,000 and has been identified as a reporting unit. The net assets for the division including goodwill are as follows:

Cash		$254,000
Accounts Receivables		303,000
Inventory		848,000
Property, Plant & Equipment		922,000
Goodwill		1,179,000
Accounts Payable		(136,000	)
Unearned Revenue		(75,000	)
Net assets, at carrying amounts		$3,295,000

The fair value of the Alcott Maintenance Division reporting unit as a whole is estimated to be $3,498,000. Management determines that the units value in use is $3,594,000.

a) b)

Prepare any appropriate journal entries for goodwill impairment assuming that Culver Construction & Paving is reporting under ASPE. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Prepare any appropriate journal entries for goodwill impairment assuming that Culver Construction & Paving is reporting under IFRS. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit