Business, 20.07.2019 04:10 hamichrit2412

On january 1, 20x1, porta corporation purchased swick company’s net assets and assigned goodwill of $81,800 to reporting division k. the following assets and liabilities are assigned to reporting division k on the acquisition date: carrying amount fair value cash $ 15,800 $ 15,800 inventory 57,800 72,800 equipment 188,000 208,000 goodwill 81,800 accounts payable 31,800 31,800 required: on december 31, 20x3, porta must test goodwill for impairment. determine the amount of goodwill to be reported for division k and the amount of goodwill impairment to be recognized, if any, if division k’s fair value is determined to be $358,000. $298,000. $278,000.

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On january 1, 20x1, porta corporation purchased swick company’s net assets and assigned goodwill of...

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