Please correct my mistakes List of Accounts Accounts Payable Accounts Receivable Accumulated Amortization Copyrights Accumulated Amortization Customer Lists Accumulated Amortization Customer Database Accumulated Amortization Development Costs Accumulated Amortization Franchises Accumulated Amortization Licences Accumulated Amortization Patents Accumulated Amortization Software Accumulated Amortization Trademarks Accumulated Depreciation Accumulated Impairment Losses Goodwill Accumulated Impairment Losses Licences Accumulated Impairment Losses Patents Accumulated Impairment Losses Trademark Accumulated Impairment Losses Trade Names Accumulated Impairment Losses Copyrights Administrative Expenses Advances to Employees Advertising Expense Allowance for Doubtful Accounts Amortization Expense Bad Debt Expense Bank Loans Buildings Cash Common Shares Copyright Cost of Goods Sold Customer Database Customer Lists Delivery Expense Depreciation Expense Development Costs Discount on Bonds Payable Due from Factor Due to Customer Equipment Fair Value NI Investments Finance Expense Finance Revenue Franchises Freight In Freight Out Gain on Disposal of Intangible Assets Gain on Sale of Equipment Gain on Sale of Land Goodwill Income Summary Intangible Assets Intangible Assets Copyrights Intangible Assets Customer List Intangible Assets Development Costs Intangible Assets Licences Intangible Assets Franchises Intangible Assets Patents Intangible Assets Software (Old) Intangible Assets Software (New) Intangible Assets Trademarks Intangible Assets Trade Names Interest Expense Interest Income Interest Receivable Inventory Land Leasehold Improvements Licences Licensing Agreement Loss on Disposal of Intangible Assets Loss on Impairment Loss on Impairment Goodwill Loss on Impairment Licences Loss on Impairment Trademarks Loss on Impairment Patents Loss on Sale of Copyright Loss on Sale of Receivables Machinery Maintenance and Repairs Expense Miscellaneous Expense No Entry Notes Payable Notes Receivable Office Expense Office Expense Bank Charges Operating Expenses Patents Petty Cash Prepaid Expenses Prepaid Rent Purchase Discounts Recovery of Loss from Impairment Rent Expense Research and Development Expense Resource Liability Retained Earnings Revaluation Gain or Loss Revaluation Surplus (OCI) Royalty Expense Sales Sales Discounts Sales Discounts Forfeited Sales Revenue Selling Expenses Servicing Liability Service Revenue Sick Pay Wages Payable Software Start up Expenses Supplies Supplies Expense Trademarks Trade Names Unearned Revenue Unrealized Gain or Loss FV NI Blue Spruce Golf and Sports was formed on July 1, 2020, 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 statement of financial position 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 $13,720 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 indefinitely at nominal cost The copyright had a remaining life of 40 years Assume that Blue Spruce Golf and Sports is a public company The relevant information for the impairment test on December 31, 2022, is as follows Carrying Amount Future Net Cash Flows (Undiscounted) Value in Use FV Selling Costs Trade name $13,720 $10,040 $6,790 $7,910 21,663 27,920 24,420 23 180 Copyright Cash generating unit to which goodwill was allocated 451,500 462,520 420,770 402,880 Provide any associated journal entry for the impairment test (Credit account titles are automatically indented when the amount is entered Do not indent manually ) Date Account Titles and Explanation Debit Credit Dec 31, 2022 Loss on Impairment 36540 Trade Names 5810 Accumulated Impairment Losses Trade Names 30730

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Please correct my mistakes List of Accounts: Accounts Payable Accounts Receivable Accumulated Amortization - Copyrights Accumulated Amortization - Customer Lists Accumulated Amortization - Customer Database

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List of Accounts:

Accounts Payable
Accounts Receivable
Accumulated Amortization - Copyrights
Accumulated Amortization - Customer Lists
Accumulated Amortization - Customer Database
Accumulated Amortization - Development Costs
Accumulated Amortization - Franchises
Accumulated Amortization - Licences
Accumulated Amortization - Patents
Accumulated Amortization - Software
Accumulated Amortization - Trademarks
Accumulated Depreciation
Accumulated Impairment Losses - Goodwill
Accumulated Impairment Losses - Licences
Accumulated Impairment Losses - Patents
Accumulated Impairment Losses - Trademark
Accumulated Impairment Losses - Trade Names
Accumulated Impairment Losses - Copyrights
Administrative Expenses
Advances to Employees
Advertising Expense
Allowance for Doubtful Accounts
Amortization Expense
Bad Debt Expense
Bank Loans
Buildings
Cash
Common Shares
Copyright
Cost of Goods Sold
Customer Database
Customer Lists
Delivery Expense
Depreciation Expense
Development Costs
Discount on Bonds Payable
Due from Factor
Due to Customer
Equipment
Fair Value - NI Investments
Finance Expense
Finance Revenue
Franchises
Freight-In
Freight-Out
Gain on Disposal of Intangible Assets
Gain on Sale of Equipment
Gain on Sale of Land
Goodwill
Income Summary
Intangible Assets
Intangible Assets-Copyrights
Intangible Assets-Customer List
Intangible Assets-Development Costs
Intangible Assets-Licences
Intangible Assets-Franchises
Intangible Assets-Patents
Intangible Assets-Software (Old)
Intangible Assets-Software (New)
Intangible Assets-Trademarks
Intangible Assets-Trade Names
Interest Expense
Interest Income
Interest Receivable
Inventory
Land
Leasehold Improvements
Licences
Licensing Agreement
Loss on Disposal of Intangible Assets
Loss on Impairment
Loss on Impairment - Goodwill
Loss on Impairment - Licences
Loss on Impairment - Trademarks
Loss on Impairment - Patents
Loss on Sale of Copyright
Loss on Sale of Receivables
Machinery
Maintenance and Repairs Expense
Miscellaneous Expense
No Entry
Notes Payable
Notes Receivable
Office Expense
Office Expense - Bank Charges
Operating Expenses
Patents
Petty Cash
Prepaid Expenses
Prepaid Rent
Purchase Discounts
Recovery of Loss from Impairment
Rent Expense
Research and Development Expense
Resource Liability
Retained Earnings
Revaluation Gain or Loss
Revaluation Surplus (OCI)
Royalty Expense
Sales
Sales Discounts
Sales Discounts Forfeited
Sales Revenue
Selling Expenses
Servicing Liability
Service Revenue
Sick Pay Wages Payable
Software
Start-up Expenses
Supplies
Supplies Expense
Trademarks
Trade Names
Unearned Revenue
Unrealized Gain or Loss - FV-NI

Blue Spruce Golf and Sports was formed on July 1, 2020, 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 statement of financial position 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 $13,720 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 indefinitely at nominal cost. The copyright had a remaining life of 40 years. Assume that Blue Spruce Golf and Sports is a public company. The relevant information for the impairment test on December 31, 2022, is as follows: Carrying Amount Future Net Cash Flows (Undiscounted) Value in Use FV - Selling Costs Trade name $13,720 $10,040 $6,790 $7,910 21,663 27,920 24,420 23.180 Copyright Cash-generating unit to which goodwill was allocated 451,500 462,520 420,770 402,880 Provide any associated journal entry for the impairment test. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec 31, 2022 Loss on Impairment 36540 Trade Names 5810 Accumulated Impairment Losses - Trade Names 30730