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At the beginning of 2009, Metatec Inc. acquired Ellison Technology Corporation for $600 million

At the beginning of 2009, Metatec Inc. acquired Ellison Technology Corporation for $600 million
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ACCOUNTING

P11-12 Depreciation and amortization; impairment

At the beginning of 2009, Metatec Inc. acquired Ellison Technology Corporation for $600 million. In addition to cash, receivables, and inventory, the following assets and their fair values were also acquired:

AND SO ON

The plant and equipment are depreciated over a 10-year useful life on a straight-line basis. There is no estimated residual value. The patent is estimated to have a 5-year useful life, no residual value, and is amortized using the straight-line method.

At the end of 2011, a change in business climate indicated to management that the assets of Ellison might be impaired. The following amounts have been determined:

*After first recording any impairment losses on plant and equipment and the patent.

 

FILE: MS WORD

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