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please answer correctly and clearly Grand Champion inc, purchased America's Swoethearts Corporation on January 1, 2019. At the time, America's Swoethearts had the following assets

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Grand Champion inc, purchased America's Swoethearts Corporation on January 1, 2019. At the time, America's Swoethearts had the following assets and Liabilities (stated at fair value); Grand Champion paid $900,000 for America's Sweethoarts. Assume that Amorica's Sweethearts is a reporting unit of Grand Champion. At the end of 2020. America's Sweethearts has a fair value of $730,000 and a book value of $880,000, which includes any goodwill recorded. Of this fair value, $340,000 is attributable to identifiable assets net of (or identifiable net assets) labilities. 1. Calculate the impairment loss of goodwill (if any). x Points: 0/1 Check My Work Calculate goodwill that Grand Champion recorded when it purchased America's Sweethearts in 2019 and compare it 2. Record the appropriate journal entry on December 31, 2020. Goneral Joumal instructions How does sradins work

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