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Cullumber Corporation purchased Ivanhoe Company 3 years ago and at that time recorded goodwill of $698,400. The Division's net identifiable assets, including the goodwill, have
Cullumber Corporation purchased Ivanhoe Company 3 years ago and at that time recorded goodwill of $698,400. The Division's net identifiable assets, including the goodwill, have a carrying amount of $1,164,000. The fair value of the division is estimated to be $1,067,000 Prepare Cullumber's journal entry, if necessary, to record the impairment of the goodwill
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College Accounting
Authors: Heintz and Parry
20th Edition
1285892070, 538489669, 9781111790301, 978-1285892078, 9780538489669, 1111790302, 978-0538745192
