Please can help me with this assignment ?

P12-9 only

P12-8 Meridan Golf and Sports was formed on July 1, 2017, when Steve Powerdriver purchased Old Master Golf Corporation. Old Master provides video golf instruction at kiosks in shopping malls. Powerdriver's plan is to make the instruction business part of his golf equipment and accessory stores. Powerdriver paid $650,000 cash for Old Master. At the time of purchase, Old Master's balance sheet reported assets of $550,000 and liabilities of $100,000 (shareholders' equity was $450,000). The fair value of Old Master's identifiable assets was estimated to be $700,000. Included in the identifiable assets was the Old Master trade name with a fair value of $15,000 and a copyright on some instructional books with a fair value of $25,000. The trade name had a remaining legal life of five years and can be renewed indefi- nitely at nominal cost. The copyright had a remaining life of 40 years. Instructions m AICPA.) Assume that Meridan Golf and Sports is a private company reporting under ASPE. (a) Prepare the intangible assets section of Meridan Golf and Sports at December 31, 2017. How much amortization expense is included in Meridan's income for the year ended December 31, 2017? Show all supporting calculations. (b) Prepare the journal entry to record the amortization expense for 2018. Prepare the intangible assets section of -nem of is Meridan Golf and Sports at December 31, 2018. (No impairment needs to be recorded in 2018.) 2issy 01 1(c) At the end of 2019, Powerdriver is evaluating the results of the instructional business. Due to fierce competition from Internet sites and television, the Old Master reporting unit has been losing money and has a carrying amount including goodwill) of $450,000 and fair value (including goodwill) of $430,000. Powerdriver has collected the following information about the company's intangible assets: 17,000 65,400 Expected Cash Flows berg s goloved 36 000 Intangible Asset (Undiscounted) bas ins Fair Value nem) 238,690 090, 18 Trade name $11,000 noo bus 160 $ 8,000 13.150 Copyright 30,000 25,000 5:090 Prepare the required journal entries, if any, to record impairment on Meridan's intangible assets. (Assume that amorti- zation for 2019 has been recorded.) Show supporting calculations. IFRG P12-9 Use the data provided in P12-8. Assume instead that Meridan Golf and Sports is a public company. The rele- vant information for the impairment test on December 31, 2019, is as follows: enollouvian! b juber bus astin smoopos ovig ouye s 105 fe -Carrying Future Net s vode emon sch bluords woth(e) for distinct Cash Flows one bris Value Amount (Undiscounted) in Use Fall FV-Selling Costs 3sex Trade name $ 15,000 $ 11,000 l blow Copyright 23,438 $ 7,000 oil on$ 7,500 30,000 Cash-generating unit to which 27,000 24,000 goodwill was allocated 151 450,0009 470,000 groon 440,000 CIOSinLen 420,000 types of moit 210 Instructions research sorodT .a 5 812 do sor noitemsigan saobyalty basis. Provide the calculations for the impairment test and any associated journal entry. onlarger boombonds