Question
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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Management Accounting Text Problems And Cases
Authors: M Y Khan, P K Jain
6th Edition
125902668X, 978-1259026683
