Question

NA Question 9 (1 point) In 2017. Antle Inc. had acquired Demski Co. and recorded goodwill of $245 million as a result. The net assets (including goodwill) from Antle's acquisition of Demski Co. had a 2018 year-end book value of $580 million. Antle assessed the fair value of Demski at this date to be $700 million, while the fair value of all of Demski's identifiable tangible and intangible assets (excluding goodwill) was $550 million. The amount of the impairment loss that Antle would record for goodwill at the end of 2018 is: $150 million $95 million O $0. None of these answer choices are correct. Question 10 (1 point) Natural resources that have been harvested but not yet sold are accounted for as Property, plant and equipment Cost of goods sold. Operating expense. Inventory. Question 11 (1 point) On September 30, 2018, Bricker Enterprises purchased a machine for $200,000. The estimated service life is 10 years with a $20,000 residual value. Bricker records partial-year depreciation based on the number of months in service, Depreciation to the nearest dollar) for 2019, using sum-of-the-years' dicits method would be: $31.909 $29,455. $35.456. $54,000.

Answer 1

Part 9

Answer is option C

C. $0

An impairment loss is recognized only in the situation when book value of the reporting unit acquired > fair value. In this situation fair value is greater than the book value, and therefore, no impairment loss is recognized.

Part 10

Answer is option D

D. Inventory

Natural resources that are not sold are classified as inventory

Part 11

Answer is option A

A. $31909

Depreciation (2019) = ((200000-20000)*9/12*10/55)+ ((200000-20000)*3/12*9/55) =$31909

Sum-of-the-years’ digit = 1+2+3+4+5+6+7+8+9+10 = 55