Following its acquisition of the net assets of Dan Company, Empire Company assigned goodwill of $60,000 to one of the reporting divisions. Information for this division follows:

-Based on the preceding information,what amount of goodwill (after any impairment)will be reported for this division if its fair value is determined to be $200,000?

Question

Following its acquisition of the net assets of Dan Company, Empire Company assigned goodwill of $60,000 to one of the reporting divisions. Information for this division follows:
 
-Based on the preceding information,what amount of goodwill (after any impairment)will be reported for this division if its fair value is determined to be $200,000?

Quizplus · Accepted Answer

The Answer of Following its acquisition of the net assets of Dan Company, Empire Company assigned goodwill of $60,000 to one of the reporting divisions. Information for this division follows:
 
-Based on the preceding information,what amount of goodwill (after any impairment)will be reported for this division if its fair value is determined to be $200,000?

Following Its Acquisition of the Net Assets of Dan Company