View the step-by-step solution to:

Hi, I have a question about Goodwill impairment. Company A acquired Company B on 1/7/2013 and goodwill was recored $175,640 On 30/ 6/2018, A does a...

Hi,

I have a question about Goodwill impairment.

Company A acquired Company B on 1/7/2013 and goodwill was recored $175,640


On 30/ 6/2018, A does a consolidation. At the time, the recoverable amount of goodwill as at 30 June 2018 was determined to be $75,000. As at 30 June 2017, goodwill has been impaired for $10,000. Prior to 30 June 2017, no impairment loss was recorded because the carrying amount of goodwill was lower than its recoverable amount. 


Can you help me answer with the journal entry and the value of goodwill?


Thanks.

Top Answer

Company A acquired Company B on 1/7/2013 and goodwill was recored $175,640 On 30/ 6/2018, A does a consolidation. At the... View the full answer

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online