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10. (2 points) Bridgeport Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of $310,000. The Johnson Division's net assets,
10. (2 points) Bridgeport Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of $310,000. The Johnson Division's net assets, including the goodwill, have a carrying amount of $620,000. The fair value of the division is estimated to be $810,000. Prepare Bridgeport journal entry to record impairment of the goodwill (if necessary). Accounts Impair. DR CR
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Intermediate Accounting
Authors: kieso, weygandt and warfield.
14th Edition
9780470587232, 470587288, 470587237, 978-0470587287
