Q2) Companies amortize intangible assets which are having definite life. a. Explain the process of amortisation of an intangible asset? Your answer should be accompanied with a suitable example. (4 marks) b. On September 1, 2019, Simon Corporation acquired Jumbo Enterprises for a cash payment of OMR 970,520. At the time of purchase, Simon Corporation's balance sheet showed assets of OMR 520,000, liabilities of OMR 100,000, and owner's equity of OMR 420,000. The fair value of Jumbo's assets is estimated to be OMR 620,000. Compute the amount of goodwill acquired by Simon Corporation. (Answers should show clear steps and calculations). (6 marks)