The financial statements of Zetar plc are presented in Appendix C. Instructions Use the companys annual report,
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Instructions
Use the company’s annual report, available at www.zetarplc.com, to answer the following questions.
(a) According to the notes to the financial statements, what method or methods does the company use to depreciate “plant and equipment?” What rate does it use to depreciate plant and equipment?
(b) According to the notes to the financial statements, how often is goodwill tested for impairment?
(c) Using the notes to the financial statements, as well as information from the statement of cash flows, prepare the journal entry to record the disposal of property, plant and equipment during 2009. (Round your amounts to the nearest thousand.)
Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of... Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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