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In 2017, Antle Inc. had acquired Demski Co. and recorded goodwill of $255 million as a result. The net assets (including goodwill) from Antle's acquisition
In 2017, Antle Inc. had acquired Demski Co. and recorded goodwill of $255 million as a result. The net assets (including goodwill) from Antle's acquisition of Demski Co. had a 2018 year-end book value of $590 million. Antle assessed the fair value of Demski at this date to be $710 million, while the fair value of all of Demski's identifiable tangible and intangible assets (excluding goodwill) was $565 million. The amount of the impairment loss that Antle would record for goodwill at the end of 2018 is: Multiple Choice $145 million. $110 million. $0. None of these answer choices are correct. Alteran Corporation purchased office equipment for $1.9 million in 2015. The equipment is being depreciated over a 10-year life using the sum-of-the-years'-digits method. The residual value is expected to be $800,000. At the beginning of 2018, Alteran decided to change to the straight-line depreciation method for this equipment. Required: Prepare the journal entry to record depreciation for 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.)
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