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Part B In 2021 Beamer Company acquired Hosler Company for $300,000 of which $50,000 was attributed to goodwill. At the end of 2024, Beamers accountants

Part B

In 2021 Beamer Company acquired Hosler Company for $300,000 of which $50,000 was attributed to goodwill. At the end of 2024, Beamers accountants derive the following information for the goodwill impairment test:

Book value of Hosler (net identifiable assets including goodwill) $198,000

Fair value of Hosler 190,000

Required:

Determine the amount, if any, of the goodwill impairment that Beamer must recognize for 2024 and prepare the journal entry if necessary.

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