Question
24 The fair values of assets and liabilities held by three reporting units and other information related to the reporting units owned by Prover
24 The fair values of assets and liabilities held by three reporting units and other information related to the reporting units owned by Prover Company are as follows: Cash & Receivables Inventory Land Buildings Equipment Accounts Payable Fair Value of Reporting Unit Carrying Value of Investment Goodwill Included in Carrying Value A Reporting Unit B $ 41,000 $109,700 $ 27,700 14,400 83,100 138,5ee 55,400 27,700 42,100 144,000 216,000 115,200 201,600 129,600 72,000 57,600 86,400 14,400 576,000 633,600 381,600 604,800 720,000 417,600 100,800 84,100 57,600 Required: a. Determine the amount, if any, that Prover should report as a goodwill impairment for the current period. b. Determine the amount of goodwill that Prover should report in its current financial statements.
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