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On May 28, 2021. Pesky Corporation acquired all of the outstanding common stock of Harman, Inc., for $600 million. The fair value of Harman's identifiable

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On May 28, 2021. Pesky Corporation acquired all of the outstanding common stock of Harman, Inc., for $600 million. The fair value of Harman's identifiable tangible and intangible assets totaled $638 million, and the fair value of liabilities assumed by Pesky was $172 million Pesky performed a goodwill impairment test at the end of its fiscal year ended December 31, 2021. Management has provided the following information Fair value of Marman, The $580 million Fair value of Harman's net assets (excluding goodud 11) 520 million Book value of Harnan's net assets (including goodud 11) 606 million 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 2021, any. 3. If an impairment loss is required, prepare the joumal entry to record the loss. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Req3 Determine the amount of goodwill that resulted from the Harman acquisition and the amount of goodwill impairment loss that Pesky should recognize at the end of 2021, if any. (Negative amounts should be indicated by a minus sign. Enter your non ha antara 10 Req 1 and 2 Reg 3 Determine the amount of goodwill that resulted from the Harman acquisition and the amount of goodwill impairment loss that Pesky should recognize at the end of 2021, if any. (Negative amounts should be indicated by a minus sign. Enter your answers in millions (ie., 10,000,000 should be entered as 10). V Goodwill Goodwill impairment loss million million Req3 > Journal entry worksheet 1 If an impairment loss is required, prepare the journal entry to record the loss. Note: Enter debits before credits. Event General Journal Debit Credit 1 ho Record entry Clear entry View general journal

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