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Make blue spruce journal entry for impairment of goodwill

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Question - Blue Spruce Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of $460,000. The Johnson Division's net assets, including the goodwill, have a carrying amount of $830,000. The fair value of the division is estimated to be $778,000 and the implied goodwill is $408,000.

Make Blue Spruce journal entry for impairment of the goodwill?

Reference no: EM132156197

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