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Record all journal entries for 2017: NRW Co merged with Fellow Corp which they bought for $787,000 several years ago. This included goodwill. Fellow is
Record all journal entries for 2017:
NRW Co merged with Fellow Corp which they bought for $787,000 several years ago. This included goodwill. Fellow is considered a separate reporting entity and is still carried at $787,000. Due to changing technology, NRW Co determined that goodwill might be impaired. The identifiable asserts were originally appraised at $557,000. The new appraisal, at December 31, 2017, puts the total fair value for Fellow at $656,000, with identifiable assets at $525,000.
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