Corporate accounting and reporting

Corporate accounting and reporting
Assignment question
Student # 11501805 Step 1: Select student number from the drop down list
Step 2: Find your following assignment question and follow the directions .
Important: The file should be opened in Excel Step 3: Go to Marking guide sheet for solution
Step 4: Prepare your assignment including Part A and part B in Microsoft Word.
Step 5: Upload your assignment in Turnitin before the due date.
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:
Impairment loss for Cash generating units excluding Goodwill
Part B:Provide all calculations and related journal entries for the following case:
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 $849,200
Trademark $195,000
Vehicle $123,000
Inventory $53,000
Goodwill $44,000
Total CA $1,264,200
Gali Ltd calculated the value in use of the division to be: $1,132,200
If the fair value less costs of disposal of the plant is: $817,188
Prepare the journal entry(ies) for any impairment loss occurring at 30 June 2015 including supporting calculations.
Student # 11501805 Step 1: Enter your student number
Step 2: Have a look to Customer Database sheet
92 Step 3: Read Yellow Cells Directions for Red sheets
38 Step 4: Complete and calculate the pink cells

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