The Green Fiddle has $48,000 of goodwill on its books as the result of the acquisition of The Blue Café.The acquisition has an estimated useful life of 25 years.If the acquisition were to be made today,the goodwill would be about $5,000 more than it was originally.What is the amount of goodwill amortization that needs to be deducted this year?
A)$0
B)$1,920
C)−$5,000
D)$5,000
E)$200

Question

Quizplus · Accepted Answer

No amortization is required this year.

The Green Fiddle Has $48,000 of Goodwill on Its Books