One year after acquisition date, the goodwill acquired was regarded as having become impaired by $40 000. The appropriate consolidation adjustment in relation to the impairment will include the following line:
A) DR Goodwill $40 000
B) CR Impairment expense $40 000
C) CR Business combination valuation reserve $40 000
D) CR Accumulated impairment losses $40 000

Question

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The Answer of One year after acquisition date, the goodwill acquired was regarded as having become impaired by $40 000. The appropriate consolidation adjustment in relation to the impairment will include the following line:
A) DR Goodwill $40 000
B) CR Impairment expense $40 000
C) CR Business combination valuation reserve $40 000
D) CR Accumulated impairment losses $40 000

One Year After Acquisition Date, the Goodwill Acquired Was Regarded