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A bought B on 6/31/2012 for $8 million and recorded $4 million in goodwill. While preparing the 2019 consolidated financial statements, A must test that goodwill for impairment and its qualitative assessment has indicated that an impairment is more likely than not. The goodwill has never been impaired previously and is allocated to a single reporting unit. Beta's entire business is considered to be worth $7million at 12/31/2019, with estimated fair values of $16 million for the non-goodwill assets and $8 million for the liabilities. Carrying values are $12 million for the assets (excluding goodwill) and $8 million for the liabilities.
Problem 1: Assume A is a private company and makes the optional election for its goodwill only available to private firms. How much expense would A record in 2019 related to the goodwill (don't include any impairment that might be required)?
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