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help will rate asap Exercise 11-33 (Algo) Goodwill valuation and impairment; Chapters 10 and 11 [LO11-8] On May 28 2024. Pesky Corporation acquired all of
help will rate asap
Exercise 11-33 (Algo) Goodwill valuation and impairment; Chapters 10 and 11 [LO11-8] On May 28 2024. Pesky Corporation acquired all of the outstanding common stock of Harman. Incorporated, for $530 million. The fair value of Harman's identifiable tangible and intangible assets totaled $589 million, and the fair value of liabilities assumed by Pesky was $163 million Pesky performed a goodwill impairment test at the end of its fiscal year ended December 31. 2024. Management has provided the following information. Required: 1. Determine the amount of goodwill that resulted from the Harman acquisition. 2. Determine the amount of goodwill impairment loss that Pesky should recognize at the end of 2024 , if any. 3. If an impairment loss is required, prepare the journal entry to record the loss. Complete this question by entering your answers in the tabs below. 1. Determine the amount of goodwill that resulted from the Harman acquisition. 2. Determine the amount of goodwill impairment loss that Pesky should recognize at the end of 2024, if any. Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10)
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