Question
Pursuing an inorganic growth strategy, Wilson Company acquired Venus Companys net assets and assigned them, and a total of $104,000 in goodwill, to three separate
Pursuing an inorganic growth strategy, Wilson Company acquired Venus Companys net assets and assigned them, and a total of $104,000 in goodwill, to three separate reporting divisions on January 1st. The following data is from the end of the year:
|
| Alpha | Beta | Gamma |
| Carrying Value of the Unit | $200,000 | $320,000 | $370,000 |
| Goodwill in Carrying Value | 20,000 | 34,000 | 50,000 |
| Fair Value of Reporting Unit | 175,000 | 340,000 | 360,000 |
- Compute the goodwill that should be reported for each unit
- Prepare a journal entry to record any adjustments to goodwill
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Systems Direct Auditing Practice Case IBM Book Workbook And 5.25 Disk
Authors: Dieter Weiss, Gaylord N. Smith
1st Edition
0538809051, 978-0538809054
