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IMPAIRMENT+OF+INTANGIBLES+Homework+Solution - Recall that...

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IMPAIRMENT OF INTANGIBLES Homework Solution Asset IFRS PE GAAP Impairment Loss New Book Value Impairment Loss New Book Value Mail List $7,000 41,000 6,000 42,000 Trademark 8,000 102,000* 5,000** 105,000 Goodwill** * 100,000 100,000 125,000 75,000 *Recall that recoverable value is the higher of net present value and net selling price.
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Unformatted text preview: ** Recall that step 1 of the cost recovery model is not used for indefinite-life intangible assets and thus step 2 is immediately applied. *** Recall that any impairment loss is first absorbed by goodwill and thus it is solely the goodwill that is initially being revaluated....
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