Question
Perry Company recently acquired Sam business, recognizing goodwill in the acquisition. Carrying Value Fair Value TangibleAssets$120,000$120,000 Trademark0$50,000 Customer List$35,000$45,000 Goodwill$75,000? A year after the acquisition,
Perry Company recently acquired Sam business, recognizing goodwill in the acquisition.
Carrying ValueFair Value
TangibleAssets$120,000$120,000
Trademark0$50,000
Customer List$35,000$45,000
Goodwill$75,000?
A year after the acquisition, the fair value of reporting unit including Goodwill is $215,000. Under thegiven information, is there Goodwill impairment?
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Advanced Accounting
Authors: Debra C Jeter, Paul K Chaney
5th Edition
1118022297, 978-1118022290
