Question
On 30 June 2031, Maine Ltd has a cash-generating unit with the following assets: Plant $120 000 Land $180 000 Buildings $300 000 Goodwill $20
On 30 June 2031, Maine Ltd has a cash-generating unit with the following assets: Plant $120 000 Land $180 000 Buildings $300 000 Goodwill $20 000 Maine Ltd recorded an impairment loss of $5 000 on 30 June 2031 and adjusted the asset value/s shown above. On 30 June 2032, economic circumstances improved and the recoverable amount of the CGU exceeded its carrying amount by $8 000. The balance sheet value of the Goodwill asset at 30 June 2032 will be reported as:
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
