Question
Cranes Company bought Special Products Division in 2017 and appropriately recorded $749000 of goodwill related to the purchase. On December 31, 2018, the fair value
Cranes Company bought Special Products Division in 2017 and appropriately recorded $749000 of goodwill related to the purchase. On December 31, 2018, the fair value of Special Products Division is $6050000 and it is carried on Cranes books for a total of $5150000, including the goodwill. An analysis of Special Products Divisions assets indicates that goodwill of $611000 exists on December 31, 2018. What goodwill impairment should be recognized by Cranes in 2018?
| $289000. |
|
| $69000. |
|
| $473000. |
|
| $0. |
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The Audit Process Principles Practice And Cases
Authors: Iain Gray, Louise Crawford, Stuart Manson
7th Edition
1473760186, 9781473760189
