Question
Waters Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of $409,590. The Johnson Divisions net assets, including the goodwill, have
Waters Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of $409,590. The Johnson Divisions net assets, including the goodwill, have a carrying amount of $811,510. The fair value of the division is estimated to be $1,190,200. Prepare Waters journal entry to record impairment of the goodwill.
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Quality Auditing Journal Notes Checklists Observations Evidence Questions Log
Authors: Leon Edward
1st Edition
1729431569, 978-1729431566
