Record impairment of the goodwill

Assignment Help Financial Accounting

Reference no: EM13753089

Waters Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of $400,000. The Johnson Division's net assets, including the goodwill, have a carrying amount of $800,000. The recoverable amount of the division is estimated to be $1,000,000. Prepare Waters' journal entry, if necessary, to record impairment of the goodwill.

Reference no: EM13753089

Questions Cloud

Calculate the amount of dougs deductible expenses : Doug incurred and paid the following expenses during the year : $50 for a ticket for running a red light while he was commuting to work, $100 for a ticket for parking in a handicapped parking space, Calculate the amount of Doug's deductible expenses

Propose two techniques that changing economic and social : Examine the extent to which the two (2) similar companies you researched have addressed the key issues you selected. Hypothesize two (2) potential positive outcomes for each company if each addresses the key issues

An individual employees productivity level is influenced : An individual employee's productivity level is influenced by a number of factors including those within the control of the organisation and those unique to a particular individual. Describe briefly FIVE factors unique to a particular individual that ..

Determine the performance of a web site or specific page : One way to determine the performance of a Web site or specific page is to create a goal within a Google Analytics account. A goal is a page on your Web site that is considered to be a conversion

Record impairment of the goodwill : Waters Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of $400,000. The Johnson Division's net assets, including the goodwill, have a carrying amount of $800,000. The recoverable amount of the division is estimate..

Computing earnings per share : Problem 1: Prepare in good form an income statement for Franklin Kite Co, Inc. Take your calculations all the way to computing earnings per share.

Increase their chance of success at trident : Which of Professor Scott's students is most likely to succeed ? Pick one of Professor Scott's students and offer a strategy or solution that could increase their chance of success at Trident

Subtracting in the statement of cash flows : If an analysis of the general ledger accounts indicates that equipment, which had cost $168,000 and on which accumulated depreciation totalled $135,000 on the October 1st was sold for $20,000. During 2009 the depreciation on the equipment was $30,000..

Analysis of general ledger accounts indicates that equipment : An analysis of the general ledger accounts indicates that equipment, which had cost $50,000 and on which accumulated depreciation totalled $46,000 on the date of sale, was sold for $6,000 during the year. Show the dollar amount and the type of activi..

User Account

All Pages