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Category > Accounting Posted 29 Apr 2017 My Price 3.00

Waters Corporation purchased Johnson Company

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 fair value of the division is estimated to be $1,000,000. Prepare Waters’ journal entry, if necessary, to record impairment of the goodwill.

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Alpha Geek
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Status NEW Posted 29 Apr 2017 11:04 AM My Price 3.00

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Attachments

file 1493466989-1575195_1_636289920117602177_Loss-on-Impairment.xlsx preview (111 words )
15-----------751-----------95&-----------amp-----------;am-----------p;i-----------nfo-----------Id=-----------424-----------181-----------Imp-----------air-----------men-----------t L-----------oss-----------Wat-----------ers----------- Co-----------rpo-----------rat-----------ion----------- pu-----------rch-----------ase-----------d J-----------ohn-----------son----------- Co-----------mpa-----------ny -----------3 y-----------ear-----------s a-----------go -----------and----------- at----------- th-----------at -----------tim-----------e r-----------eco-----------rde-----------d g-----------ood-----------wil-----------l o-----------f $-----------400-----------,00-----------0. -----------The----------- Jo-----------hns-----------on -----------Div-----------isi-----------onâ-----------€™s----------- ne-----------t a-----------sse-----------ts,----------- in-----------clu-----------din-----------g t-----------he -----------goo-----------dwi-----------ll,----------- ha-----------ve -----------a c-----------arr-----------yin-----------g a-----------mou-----------nt -----------of -----------$80-----------0,0-----------00.----------- Th-----------e f-----------air----------- va-----------lue----------- of----------- th-----------e d-----------ivi-----------sio-----------n i-----------s e-----------sti-----------mat-----------ed -----------to -----------be -----------$1,-----------000-----------,00-----------0.$----------- Re-----------cor-----------ded----------- go-----------odw-----------ill----------- 3 -----------yea-----------rs -----------ago-----------Cur-----------ren-----------t c-----------arr-----------yin-----------g v-----------alu-----------e o-----------f N-----------et -----------Ass-----------ets----------- in-----------clu-----------din-----------g G-----------ood----------- wi-----------llE-----------sti-----------mat-----------ed -----------Fai-----------r v-----------alu-----------e o-----------f d-----------ivi-----------sio-----------n -----------Pre-----------par-----------e
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