Ander 0 XUwe Saved to this PC- * Search Ahmad Mncimre AIA Fle Home Insert Design Layout References Malings Review View Help Share Comments X Cut TT 2 T COM Calibri Basyi 11 A A A BI-XA-2-A- ABOCC Aabbcct AaBbc Aabbcc AaB Aabbcc 4oBbce SebCO A Bbcc AaBBCD AaBocc Aabo 1 Normal * No Spac. Heading 1 Heading 2 Subtlem. Emphasis Intenset. Strong Quote Intense. Find - Replace Scot EEEE Irtle Subtle Dictate (or Paste 3 Format Panter Clipboard L Paragraph deng Estar Problem 4 (10 pts) On May 31, 2015, Armstrong Company paid $3,400,000 to acquire all of the common stock of Hall Corporation, which became a division of Armstrong. Hall reported the following statement of financial position at the time of the acquisition: Non-current assets $2,700,000 Current assets 900,000 Total assets $3,600.000 Equity Non-current liabilities Current liabilities Total equity and liabilities $2,500,000 500,000 S 600.000 $3.600.000 (a) It was determined at the date of the purchase that the fair value of the identifiable net assets of Hall was $2,800,000. Compute the amount of goodwill recognized, if any, on May 31, 2015 (b) At December 31, 2015, Hall reports the following statement of financial position information: Current assets $ Non-current assets (including goodwill recognized in purchase) Current liabilities Non-current liabilities Net assets 800,000 2,400,000 (700,000) (500.000) $2,000,000 Assume that the recoverable amount of the Hall division is $1,800,000. Prepare the joumal entry to record the impairment loss, if any, on December 31, 2015. Activate Windows Go to Settings to activate Windows Crocus Puy so 1034 wurds English Unted States Type here to search Ei 10 ING 2:43 PM 10/2001