An entity has net assets with a carrying amount of GH420,000. Value in use...
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Accounting
An entity has net assets with a carrying amount of GH420,000.
Value in use has been calculated as GH480,000.
Several years earlier, the entity had acquired another business. The carrying amount of the purchased goodwill arising on this acquisition is now GH40,000.
At the time of the acquisition, the purchased goodwill arising on this acquisition is now GH40,000.
At the time of the acquisition, the original business had internally generated goodwill of GH200,000.
Calculate the impairment loss and show how it would be allocated.
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