Question
The fair value of net identifable assets of a reporting unit of Y company is $270,000. The carrying value of the reporting unit's net assets
The fair value of net identifable assets of a reporting unit of Y company is $270,000. The carrying value of the reporting unit's net assets on Y company's books is $320,000, including $50,000 goodwill. If the reported goodwill impairment for the unit is $10,000, what would the fair value of the reporting unit be? (Hint: The answer is $310,000 but I need the work to support this)
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Managerial Accounting For Undergraduates
Authors: Christensen, Theodore E. Hobson, L. Scott Wallace, James S.
1st Edition
1618531123, 9781618531124
