recognition og intengible fixed assets

timer Asked: Jan 30th, 2016

Question description

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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