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*Complete the Goodwill Impairment Loss Effects Projects Scenario Pecos smart set acquired degree Celsius percent of Suaros outstanding stock for $1,450,000 change on January 1, 2009, when Suaro had the following balance sheet: AssetsLiabilities and Equity hard cash$37,000Liabilities$(422,000) Receivables82,000 Inventory..149,000 uncouth Stock.(350,000) Land90,000 kept up(p) clams.(126,000) Equipment (net).225,000 Software315,000 develop Liabilities and Equity.$(898,000) Total Assets..898,000 At the encyclopedism date, the fair set of each identifiable asset and liability that differed from book cheer were as follows: Land$80,000 Brand dissolve 60,000(indefinite life unacknowledged on Suaros books) Software415,000(2-year estimated useful life) In-Process R& adenylic acid;D300,000(no alternative use for these R&D assets) Additional Information * Although at acquisition date Pe cos pass judgment upcoming benefits from Suaros in-process research and development (R&D), by the revoke of 2009, it became clear that the research project was a trouble with no future economic benefits.

* During 2009, Suaro earns $75,000 and pays no dividends. * Selected amounts from Pecos and Suaros separate financial statements at December 31, 2010, are presented in the consolidated information worksheet. All consolidated worksheets are to be vigilant as of December 31, 2010, two years subsequent to acquisition. * Pecoss January 1, 2010, Retained Earnings balancebefore any exercise from Suaros 2009 incomeis ($9 30,000) (credit balance). * Pecos has 5! 00,000 common shares outstanding for EPS calculations and reported $2,943,100 for consolidated assets at the stem of the period. Following is the consolidated information worksheet. A| B| C| D| December 31, 2010, trial balances | | | | | Pecos| Suaro| | Revenues|...If you want to get a full essay, order it on our website: BestEssayCheap.com

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