Question
Multiple Choice Question 110 Wildhorse Corporation acquired Linebrink Products on January 1, 2018 for $8500000, and recorded goodwill of $2100000 as a result of that
Multiple Choice Question 110
Wildhorse Corporation acquired Linebrink Products on January 1, 2018 for $8500000, and recorded goodwill of $2100000 as a result of that purchase. At December 31, 2018, Linebrink Products had a fair value of $7408000. The net identifiable assets of the Linebrink (excluding goodwill) had a fair value of $6200000 at that time. What amount of loss on impairment of goodwill should Wildhorse record in 2018?
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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J Weygandt, Paul D Kimmel, Jill E Mitchell
9th Edition
1119754054, 9781119754053
