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QUESTION

Biloba Limited (Biloba) has three divisions, A, B and C, which operate independently of each other to produce medical products.

There is not yet any basis on which to determine how the work of the research centre will be allocated to each of the three divisions, as that will depend on the priorities of the company overall and on issues that arise in each of the divisions. The company headquarters provides approximately equal Summer Semester 2015-16 Page 8 of 10 Faculty of Law, Education, Business and Arts Higher Education, External $750,000 Required: Determine how Biloba should account for any impairment of the entity. Justify your decisions and complete any required journal entries.

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