Solution-Calculate and record the impairment of goodwill

Calculate and record the impairment of goodwill

Assignment Help Accounting Basics

Reference no: EM131975304

Question - On Jan 1, 2013, Johnson Inc. paid $200,000 to acquire Swanson Inc. At the time of the acquisition Swanson Inc's balance sheet reported total assets of $200,000 and liabilities of $100,000. The fair market value of Swanson Inc's assets was $200,000. The fair market value of its liabilities was $100,000. At the end of 2016, they measured goodwill and found its fair value to be $60,000. Calculate and record the impairment of goodwill.

Reference no: EM131975304

Questions Cloud

Determine the change in stock price : A firm is earning $2 per share and pays out $0.80 in dividends. The required return is 16%, and the projected growth rate in dividends is 9%.

What was the standard materials price per pound : All materials purchased were used during the year. If the materials price variance was $1,307 favorable, what was the standard materials price per pound

Find the value of the stock with a required return : A firm is expected to pay a dividend of $1.15 next year and $1.30 the following year. Financial analysts believe the stock will be at their price target.

Compare your companys ratios and competitor standard ratios : Compare and contrast your company's ratios to industry and competitor standard ratios obtained from Yahoo Finance, Morningstar, MotleyFool, Macroaxis or other I

Calculate and record the impairment of goodwill : At the end of 2016, they measured goodwill and found its fair value to be $60,000. Calculate and record the impairment of goodwill

What is the maximum amount that hadjer can deduct : The fair market value of the land was $16,000 on the day it was donated. What is the maximum amount that Hadjer can deduct

What is the firm breakeven quantity of sales : Firm M is selling a product that has a variable cost of $60 and a selling price of $90. The firm has a total fixed cost of $500,000 and a fixed operating cost.

Prepare journal entry on july for mays finance corporation : Prepare the journal entry on july 1,2015, for Mays Finance Corporation to record the purchase of receivables without recourse.

Which firm has a greater return on equity : Firm A and Firm B have debt-total asset ratios of 25 percent and 40 percent and returns on total assets of 8 percent and 7 percent, respectively.

User Account

All Pages

Calculate and record the impairment of goodwill

Reference no: EM131975304

Reference no: EM131975304

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT