Fifa Co. acquired the Green Co. on January 1,.1 2019 for £640,000,000, and recorded goodwill of £81,200 as a result of that purchase. At December 31, 2015, Green Co. had a recoverable amount of £568,000,000. The carrying value of the Fifa Company's net assets at December 31, 2019 was £592,000,000 (including goodwill). What amount of loss on impairment of goodwill should Fifa Co. ?record in 2019
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Fifa Co. acquired the Green Co. on January 1,.1 2019 for £640,000,000, and recorded
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- Jacky Inc. purchased Manzanita Marine on June 1, 2015 for $25,000,000 and recorded goodwill of $3,100,000 in connection with the purchase. At December 31, 2018, the Manzanita Marine Division had a fair value of $25,400,000. The net assets of Manzanita (including goodwill) had a fair value of $24,900,000 at that time. What amount of loss on impairment of goodwill should Jacky record in 2018?On September 1, 2019, Winans Corporation acquired Aumont Enterprises for a cash payment of £800,000. At the time of purchase, Aumont’s statement of financial position showed assets of £600,000, liabilities of £200,000, and equity of £400,000. The fair value of Aumont’s assets is estimated to be £800,000. Compute the amount of goodwill acquired by Winans.Barbay Ltd has two divisions. It acquired one of them, Tibay Products, on January 1, 2022 for $400,000, and recorded goodwill of $50,750 as a result of that purchase. If at December 31, 2022, Tibay Products will have a recoverable amount of $370,000 and carrying value of its net assets of $355,000 (including goodwill). What amount of loss on impairment of goodwill should Barbay Ltd record in 2022, if any? $Answer
- ANEMONE Company engaged your services to compute the goodwill in the purchase of another company which provided the following: Net income Net assets 2018 P 2,000,000 P 7,800,000 2019 2,500,000 8,700,000 2020 3,900,000 9,000,000 Goodwill is measured by capitalizing excess earnings at 25% with normal on average net assets at 20% How much is the goodwill?Manara Corporation acquired Sama Products on January 1, 2019 for $4,000,000, and recorded goodwill of $750,000 as a result of that purchase. At December 31, 2019, Sama Products had a carrying value of $3,500,000, Also, it is determined that the current recoverable amount value of the Sama division is $2,900,000 at that time. What amount of loss on impairment of goodwill should Manara record in 20197 OA S710,000 OB $600,000 OC S480,000 OD S0Barbay Ltd has two divisions. It acquired one of them, Tibay Products, on January 1, 2022 for $400,000, and recorded goodwill of $50,750 as a result of that purchase. If at December 31, 2022, Tibay Products will have a recoverable amount of $370,000 and carrying value of its net assets of $355,000 (including goodwill). What amount of loss on impairment of goodwill should Barbay Ltd record in 2022, if any?
- Tamara Corporation acquired XW Products on January 1, 2020 for $6,400,000, and recorded goodwill of $1,200,000 as a result of that purchase. At December 31, 2021, the XW Products Division had a fair value of $5,450,000. The net identifiable assets of the Division (excluding goodwill) had a fair value of $4,745,000 at that time. What amount of loss on impairment of goodwill should Tamara record in 2021? 16.Carla Vista Corporation acquired End-of-the-World Products on January 1, 2020 for $6150000, and recorded goodwill of $1150000 as a result of that purchase. At December 31, 2021, the End-of-the-World Products Division had a fair value of $4482000. The net identifiable assets of the Division (including goodwill) had a carrying value of $5190000 at that time. What amount of loss on impairment of goodwill should Carla Vista record in 2021? $960000 $1668000 $0 $708000Frodo Corp. bought Aardvark Co. in 2021 and appropriately recorded goodwill related to the purchase. On December 31, 2022, Frodo Corp. reports the following information relating to Aardvark Division: Amount $131,000 $393,000 $658,000 How much loss from goodwill impairment should be recognized by Frodo Corp. in 2022? $265,000 $134.000 Item Goodwill Book value of net assets (including goodwill) Fair value $0 $131,000
- On September 1, 2018, Vernon Corporation acquired Barlow Enterprises for a cash payment of $820.000. At the time of purchases. Barlow's balance sheet showed assets of $610.000. liabilities of $240.000, and owner's equity of $420.000. The fair value of Barlow's assets is estimated to be 5970.000.The liabilities are all estimated to be at fair value. a) Compute the amount of goodwill acquired by Vernon. 120000 b) On December 31, 2020, the fair value of Barlow as a reporting unit is estimated to be $720.000. The carrying value of Vernon's investment in Barlow at year-end is $750.000. The fair value of Barlow's identifiable net asset, excluding the goodwill, is determined to be 655.000 Prepare Vernon's journal entry, if necessary, to record impairment of goodwill. Please use the new standard (Hint: The FASB's new goodwill Impairment testing guidance- ASU 2017-04 is required for public SEC filers for periods beginning after December 15. 2019) Note: Please use integer only. Do not use a S.…Wildhorse Corporation acquired End-of-the-World Products on January 1, 2020 for $6250000, and recorded goodwill of $1170000 as a result of that purchase. At December 31, 2021, the End-of-the-World Products Division had a fair value of $4580000. The net identifiable assets of the Division (including goodwill) had a carrying value of $5290000 at that time. What amount of loss on impairment of goodwill should Wildhorse record in 2021?Anton Company acquired the net assets of Hair Company on January 1, 2015, for $600,000. Using a business valuation model, the estimated value of Anton Company was $650,000 immediately after the acquisition. The fair value of Anton’s net assets was $400,000. 1. What amount of goodwill was recorded by Anton Company when it acquired Hair Company?2. Using the information, answer the questions posed in the following two independent situations: a. On December 31, 2016, there were indications that goodwill might have been impaired. At that time, the existing recorded book value of Anton Company’s net assets, including goodwill, was $500,000. The fair value of the net assets, exclusive of goodwill, was estimated to be $340,000. The value of the business was estimated to be $520,000. Is goodwill impaired? If so, what adjustment is needed? b. On December 31, 2018, there were indications that goodwill might have been impaired. At that time, the existing recorded book value of Anton Company’s net…