Question 29 4 Points Assume That Ayisiyiniwiwinak Corp Paid 30 Million To Purchase 10 Trees Inc Below Is A Summary 1 (54.55 KiB) Viewed 53 times
Question 29 4 Points Assume That Ayisiyiniwiwinak Corp Paid 30 Million To Purchase 10 Trees Inc Below Is A Summary 2 (27.81 KiB) Viewed 53 times
Question 29 (4 points) Assume that ayisiyiniwiwinak Corp. paid $30 million to purchase 10-Trees Inc. Below is a summary of the balance sheet of 10-Trees Inc. at the time of the ayisiyiniwiwinak Corp. acquisition (amounts are given in million $). The fair value of 10-Tree Inc.'s non-current assets was higher than the book value and amounted to $37 at that time. ០ Assets Current assets 10 Non-current assets 33 Total assets 43 Liabilities Current liabilities Non-current liabilities 12 Total liabilities 20 Shareholders' equity Common shares 7 Retained earnings 16 Total shareholders' equity 23 Total liabilities and shareholders' equity 43 Blank #1: What is the goodwill resulting from this transaction? Enter your response as a plain number (no $-signs or decimals). Blank #2: Assume that after a year, ayisiyiniwiwinak Corp. recognized a goodwill impairment loss of $1 million. On which financial statement is the impairment loss recorded?
Blank #1: What is the goodwill resulting from this transaction? Enter your response as a plain number (no $-signs or decimals). Blank #2: Assume that after a year, ayisiyiniwiwinak Corp. recognized a goodwill impairment loss of $1 million. On which financial statement is the impairment loss recorded? (Hint: This relates to the debit account of the journal record of the impairment loss recognition) Blank # 1 Blank # 2
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