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ACC 204 Managerial Accounting

tag 0 Download 6 Pages / 1,282 Words tag 06-07-2021

Question:

This assignment has 2 parts, 1000 + 10% word theory interpretation essay and a response to a practical application of the theory.
The assignment must be typed, use Arial font, 12, to avoid plagiarism, make sure you do proper referencing, at least use 6 references, to be submitted the soft copy in Turnitin and hard copy in lecture Week 10. Please ensure you attach a KOI assignment cover sheet, with ID numbers and signed. Late assignments will be penalised, 10% deduction per day.
Part A:1000 word short essay about the following:
Reversal of an impairment loss for Goodwill  
Gali Ltd has determined that its fine china division is a CGU. The carrying amounts of the assets at 30 June 2015 are as follows:
Account Carrying Amount
plant 384000
Equipment 88000
Fittings 55000
Inventory 24000
Goodwill 20000
Total CA 571000
Gali Ltd calculated the value in use of the division to be:
If the fair value less costs of disposal of the
Required  
Prepare the journal entry(ies) for any impairment loss occurring at 30 June 2015 including supporting calculations.
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