Maurice Tutor

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About Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 4 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 24 Sep 2017 My Price 5.00

subsidiary Zen

Facts

The calculation refers to an impairment loss suffered by subsidiary Zen at December 31, 20X4:

 

Goodwill

Net assets

Total
 

$m

$m

$m

December 31, 20X4—carrying value

300

900

1200

Impairment

(300)

(200)

(500)
 

-

700

700

There has been a favorable change in the estimates of the recoverable amount of Zen’s net assets since the impairment loss was recognized. The recoverable amount is now $800 million at December 31, 20X5. The net assets’ carrying value would have been $720 million at December 31, 20X5. Assets are depreciated at 20% reducing balance.

Required

Show the accounting treatment for the reversal of the impairment loss as of December 31, 20X5.

Answers

Maurice Tutor
(5)
Status NEW Posted 24 Sep 2017 11:09 PM My Price 5.00

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