Jacky Inc. purchased Manzanita Marine on June 1, 2018 for $25,000,000 and recorded goodwill of $3,100,000 in connection with the purchase. At December 31, 2021, the Manzanita Marine Division had a fair value of $25,400,000. The net assets of Manzanita (including goodwill) had a fair value of $24,900,000 at that time. What amount of loss on impairment of goodwill should Jacky record in 2021?<\/p>
<\/p>
a. $ 600000<\/p>
b. $ 500000<\/p>
c. 0<\/p>
d. 2600000<\/p>", "transcribed_text": "", "related_book": { "title": "Income Tax Fundamentals 2013", "isbn": "1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516", "edition": "31st Edition", "authors": "Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1124.jpg", "uri": "\/textbooks\/income-tax-fundamentals-2013-31st-edition-9781285586618", "see_more_uri": "" }, "free_related_book": { "isbn": "1354889371", "uri": "\/textbooks\/retrospect-of-western-travel-in-three-volumes-vol-ii-1st-edition-b01edmrj2c-265528", "name": "Retrospect Of Western Travel In Three Volumes Volume II", "edition": "1st Edition" }, "question_posted": "2024-06-28 04:44:35", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-13", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/bright-tiles-is-a-small-distributor-of-marble-tiles-bright", "description": "Bright Tiles is a small distributor of marble tiles. 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Data from Eq. 19.28 qq=303=108 qq 3 3 603, 999 3 3 3 = 36315, qqq 3 3 3 1088 10,", "stars": 3 }, { "url": "\/study-help\/particle-physics\/in-about-the-years-214212-bc-the-greek-philosopher-and-1374604", "description": "In about the years 214-212 BC, the Greek philosopher and scientist Archimedes is said to have repelled a Roman attack with a \"death-ray\" converging mirror, using sunlight to set the approaching fleet...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/course-bsbfia303-process-accounts-payable-and-receivable-question-will-an-4241910", "next": "\/study-help\/questions\/how-those-cyber-fraud-relate-to-the-extended-fraud-triangle-4241912" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Jacky Inc. purchased Manzanita Marine on June 1, 2018 for $25,000,000 and", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/jacky-inc-purchased-manzanita-marine-on-june-1-2018-for-4241911" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }" } }