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Plasher Company has a reporting unit resulting from an earlier business combination. The reporting unit's current asset and liabilities are :
Cash ; Carrying Amount $30.000 ; Fair value $30.000
Inventory ; Carrying Amount 70.000 ; fair value 100.000
Land ; Carrying Amount 30.000 ; fair value 60.000
Buildings ; Carrying Amount 210.000 ; fair value 230.000
Equipment ; Carrying Amount 160.000 ; fair value 170.000
Good will ; Carrying Amount 150.000 ; fair value -
Notes payable ; Carrying Amount 100.000 ; fair value 100.000
Required :
Question 1: Determine the amount of goodwill to be reported and the amount of goodwill impairment, if any, if the total fair value of the reporting unit is estimated to be :
a. $ 580.000
b. $ 540.000
c. $ 500.000
d. $460.000
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