Question 10 of 13 - Ch11 HW

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Jan 9, 2024

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View Policies Show Attempt History Your Answer Correct Answer Your answer is correct. Cullumber Corporation acquired EOW Products on January 1, 2025 for $6450000, and recorded goodwill of $1210000 as a result of that purchase. At December 31, 2026, the EOW Products Division had a fair value of $4789000. The net identi±able assets of the Division (including goodwill) had a carrying value of $5490000 at that time. What amount of loss on impairment of goodwill should Cullumber report in 2026? $960000 $0 $701000 $1661000 $5490000 - $4789000 = $701000 . eTextbook and Media Solution Attempts: 1 of 3 used
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