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Question - In 2009 Nike Corporation reported a large goodwill impairment loss. Referring to Nike's 2009 financial statements and applicable financial reporting standards, answer the following questions:
1. How much goodwill impairment charge did Nike report in 2009?
2. Why did Nike write down its goodwill in 2009? What are some other indicators for goodwill impairment in general?
3. How did Nike reflect this impairment in financial statement?
4. How often does Nike test its goodwill for impairment and what are the testing steps?
5. Certain other indefinite-lived intangibles and other long-lived assets (including intangible assets with a finite life) are also subject to impairment assessment. Did Nike incur any of these impairment charges in 2009? Explain briefly when and how Nike tests these assets for impairment.
For each of the transactions, prepare accrual basis journal entries and determine whether the accounting equation remains in balance and debits equal credits after each entry. Also, calculate the company's preliminary net income.
graham company purchased a new machine for 2800000. the new machine has an estimated useful life of nine years and the
If the new equipment is purchased, the present value of the annual cash operating costs associated with this alternative
Suppose selected comparative statement data for the giant booksellerBarnes & Nobleare presented here.
Refer to the information in Exercise 10-12. Prepare a table showing income before depreciation, depreciation expense, and net (pretax) income for each year.
Describe some of the issues the SEC must consider in deciding whether the United States should adopt IFRS.
Kindschuh Corporation is working on its direct labor budget for the next two months. Construct the direct labor budget for the next two months
Let's assume that the Value of the land is $8 Million and the value of the building is $85 million. How does the test is performed
Aardvark Consulting is a consulting firm owned and operated by Jan Sullivan.
Problem - Preparation of statement of cash flows (format provided). Prepare a statement of cash flows (using the indirect method) for 2010 for Rainey Company
Problem: Ken Lumas started his own consulting firm, Lumas Consulting, on June 1, 2014. The trial balance at June 30 is as follows.
Determine how many personal and dependency exemptions are available in each of the following independent situations. Specify whether any such exemptions would come under the qualifying child or the qualifying relative category.
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