Answers
Impaired fair value of goodwill= fair value of division - carrying value of division Net Goodwill, Fair value of Mister Division=$1375000 Carrying value of division Net assets = 600000+1600000-500000-300000 = $1400000 Increase in fair value of property, plant and equipment $75000 Less: goodwill ($125000) $1350000 Implied value of goodwill $25000 Carrying amount of goodwill $125000 Loss of impairment=25000-125000 = $(100000) Particulars Debit($) Credit($) Loss of impairment 100000 Goodwill 100000 Goodwill reported on balance sheet=$100000 Option (a) is correct answer.
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