Question
Brief Exercise 12-7 Concord Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of $460,000. The Johnson Divisions net assets, including
Brief Exercise 12-7
Concord Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of $460,000. The Johnson Divisions net assets, including the goodwill, have a carrying amount of $920,000. The fair value of the division is estimated to be $1,130,000. Prepare Concord journal entry to record impairment of the goodwill.
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CPA Exam Review 2020 At Least Know This Auditing And Attestation
Authors: At Least Know This
1st Edition
1706038364, 978-1706038368
