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Answer all the question No Spacing Heading 1 Problems 1.(12 points) On September 1, 2019, Undisputed Corporation acquired TLC Enterprises for a cash payment of

Answer all the question

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No Spacing Heading 1 Problems 1.(12 points) On September 1, 2019, Undisputed Corporation acquired TLC Enterprises for a cash payment of $850,000. At the time of purchases, TLC's balance sheet showed assets of $620,000, liabilities of $240,000, and owner's equity of $420,000. The fair value of TLC's assets is estimated to be $970,000. A: Compute the amount of goodwill acquired by Undisputed Corporation. On September 30th, 2020 assume the TLC Enterprises Division of Undisputed Corporation has the following balance sheet. Assets (including goodwill): $1,030,000 Liabilities: 350,000 Equity: 680,000 B: Based on the above information, Assuming the FMV of the division is $750,000, determine the Goodwill Impairment to be recorded (and prepare the journal entry) C: Independently from "B", now Assuming the FMV of the division is $650,000 determine the Goodwill impairment to be recorded (and prepare the journal entry)

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