FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

on january 1, 2021, engel co. purchased 100% of bult co. for 8500000. on that datae, the fair value of bult tangible net asset was

on january 1, 2021, engel co. purchased 100% of bult co. for 8500000. on that datae, the fair value of bult tangible net asset was 8000000. engel ascribed the ntire 500000 excess to goodwill . on december 31, 2021, the fair value of bult had declined to 6500000. calculate the amount of goodwill impairment .

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting IFRS

Intermediate Accounting IFRS

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

3rd edition

1119372933, 978-1119372936

More Books

Students also viewed these Accounting questions

Question

2022 Full Year Results Strong sales growth and continued progress against strategy Underlying performance GAAP measures (unaudited) 2022 vs 2021 2022 vs 2021 Full Year Underlying sales growth (USG)...

Answered: 1 week ago

Question

THE COMPANY: Aylmer Industries Inc. (Aylmer) has been in business since Y4. Aylmer has two main business segments. This first segment is the construction of large-scale projects. In Y7, Aylmer had...

Answered: 1 week ago

Question

★★★★★
Consider a 0.385 g/m violin string of 0.15 m length that is clamped at both ends. [4] If a 0.385 g/m violin string of length 0.15m is clamped at one end, and the other end is tied to a small strong...

Answered: 1 week ago

Question

★★★★★
Suppose that a client performs an intermixed sequence of push and pop operations on a pushdown stack. The push operations insert the integers 0 through 9 in order onto the stack; the pop operations...

Answered: 1 week ago

Question

★★★★★
Define operational control, managerial control, and strategic planning. Provide two examples of each.

Answered: 1 week ago

Question

★★★★★
True Or False In most jurisdictions loss of companionship can be recovered in reference to a minor child, but lost services and earnings cannot.

Answered: 1 week ago

Question

★★★★★
Let X be a random variable that follows the binomial distribution with parameters n and p, and denote by Xn the proportion of successes in the n trials. Show that for any positive real number ????...

Answered: 1 week ago

Question

★★★★★
Aeropostale, Inc., is a mall-based specialty retailer of casual apparel and accessories. The company concept is to provide the customer with a focused selection of high-quality, active-oriented...

Answered: 1 week ago

Question

★★★★★
Suppose an individual invests $31,000 in a load mutual fund for two years. The load fee entails an up-front commission charge of 3.5 percent of the amount invested and is deducted from the original...

Answered: 1 week ago

Question

★★★★★
Tom Boy Enterprises expects to pay a dividend of $12.75 at the end of the year with a constant growth rate of 3.5% per year thereafter. If its required return is 15%, what is the stocks expected...

Answered: 1 week ago

Question

★★★★★
The standard cost card for a product indicates that one unit of the product requires 8 kilograms of a raw material at $0.80 per kilogram. The actual production of the product in April was 870 units,...

Answered: 1 week ago

Question

★★★★★
The site manager is planning a different operational process for the in-store shoppers. Instead of having a shopper check out one order at a time, they will now shop for two customer orders, and then...

Answered: 1 week ago

Question

★★★★★
Many companies have shifted from traditional annual performance appraisals to frequent, constructive, and future-focused development reviews. Writing a 4-page paper to explain this. Expectancy theory...

Answered: 1 week ago

Question

★★★★★
1 . Is Ashley s redesign plan, with the above information, likely to benefit from an RFP

Answered: 1 week ago

Question

★★★★★
Tricolore is an apparel retailer in east Austin, TX that sells mostly t - shirts and jeans. Tricolore s most popular item is a cotton t - shirt that comes in three colors: green, white, and red....

Answered: 1 week ago

Question

★★★★★
Which of the following is not a component of the memory map of a process in the Linux kernel? Cache Heap Stack Text Segment

Answered: 1 week ago

Question

★★★★★
Recall that Chapter 8 described the binary search algorithm for finding a particular entry in an ordered list. The idea behind binary search is to begin looking in the exact center of the list. If...

Answered: 1 week ago

Question

★★★★★
7. For each random variable defined here, describe the set of possible values for the variable, and state whether the variable is discrete. a. X the number of unbroken eggs in a randomly chosen...

Answered: 1 week ago

Question

★★★★★
111. The mode of a continuous distribution is the value x* that maximizes f(x). a. What is the mode of a normal distribution with parameters and ? b. Does the uniform distribution with parameters A...

Answered: 1 week ago

Question

★★★★★
112. The article Error Distribution in Navigation (J. Institute of Navigation, 1971: 429442) suggests that the frequency distribution of positive errors (magnitudes of errors) is well approximated by...

Answered: 1 week ago

Previous Question Next Question