In consolidating the financial record of these two companies

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Reference no: EM131851740

Several years ago, Jenkins Company acquired a controlling interest in Lambert Company. Lambert recently borrowed $100,000 from Jenkins. In consolidating the financial record of these two companies, how will the debt be handled?

When, do you think, should a parent consider recognizing an impairment loss of goodwill associated with a subsidiary? How should the loss be reported in financial statements?

Reference no: EM131851740

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