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Snowv Ltd acquires Fax Ltd on 1 Julv 2013 for $5,000,000 being the fair value of the consideration transferred. At that date, Pax Ltd's net identiable assets have a fair value of $4,400,030. Goodwill of $500,000 is therefore the difference between the aggregate of the consideration transferred and the net identiable assets acquired. The fair value of the net identifiable assets of Fax Limited are determined as follows: lSUU} Patent rights 200 Machinerv 1,0111] Buildings 1,500 Land 2,300 5,001] Less: Bankloan Net assets 4,401] At the end of the reporting period of 30 June 2019, the management of Snows]r Ltd determines that the recoverable amount of the cashgenerating unit, which is considered to be Pa): Ltd, totals $4,500,000. The carrving amount of the net identifiable assets of Fax Ltd, excluding goodwill, is unchanged and remains at $4,400,001]. Required: a] Prepare the journal entry:r to account for any:r impairment of goodwill. {5 marks] b] Assume instead that at the end of the reporting period the management of Snowv Ltd determines that the recoverable amount of the cashgenerating unit, which is considered to be Pax Ltd, totals $4,200,000. Determine the impairment of goodwill amount. {No journal entries required] [4 marks]