Reference no: EM133022979
Question - Foster Company acquires 80% of the shares of Roster Ltd. on January 2, 2010 for P1,600,000, the excess of which pertains to goodwill. At this date, the identifiable net asset of Roster Ltd. has a fair value of P1,500,000.
Roster Ltd. is the smallest group of assets that generate cash inflows from continuing use that are largely independent of the cash flows from other assets. Roster Ltd. is a cash-generating unit. During the year 2010, the amount of depreciation in relation to the identifiable assets of Roster Ltd. is P150,000. At December 31, 2010, Foster company determines that the recoverable amount of Roster Ltd. is P1,000,000.
What is the total amount of impairment loss on Roster Ltd.?
What amount of the impairment loss should be charged against the goodwill of Foster company?
What amount of the impairment loss should Foster Company recognize on the identifiable assets of Roster Ltd.?
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