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At year-end, an entity tested its goodwill for impairment and determined the following for one of its cash-generating units: Carrying value $450,000 Fair value less
At year-end, an entity tested its goodwill for impairment and determined the following for one of its cash-generating units: Carrying value $450,000 Fair value less costs to sell $420,000 The entity also determined that the present value of the future cash flows expected from the cash-generating unit is $435,000. The cash-generating unit reports goodwill of $40,000. What is the goodwill impairment loss that will be reported on the December 31 income statement under IFRS? O $0 O $15,000 O $25,000 O $40,000
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