Question
DBR Co. acquired another business and correctly recorded $32,400 of goodwill on the purchase in 2018. On December 31, 2020, the net book value of
DBR Co. acquired another business and correctly recorded $32,400 of goodwill on the purchase in 2018. On December 31, 2020, the net book value of the business is $396,000 and the fair value of the business is $382,500.
Determine the amount of goodwill impairment loss (if any) on December 31, 2020.Assume no impairment losses were recognized on goodwill in prior periods.
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Accounting
Authors: Carl s. warren, James m. reeve, Philip e. fess
21st Edition
978-0324400205, 324225016, 324188005, 324400209, 9780324225013, 978-0324188004
