Goodwill : Goodwill is measured as the excess of the cost of the purchase over the fair value of the identifiable net assets (assets less liabilities) purchased. (a) To determine the amount of goodwill recognized, if any, on July 31, 2017.

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Answer 1

Question

Chapter 12, Problem 4P

To determine

Goodwill: Goodwill is measured as the excess of the cost of the purchase over the fair value of the identifiable net assets (assets less liabilities) purchased.

(a)

To determine the amount of goodwill recognized, if any, on July 31, 2017.

To determine

(b)

To determine the impairment loss on December 31, 2017.

To determine

(c)

To assume and determine the fair value of the C. Incorporated Division is $1,600,000 instead of $1,850,000. Determine impairment loss on December 31, 2017.

To determine

(d)

To prepare: To prepare the journal entry to record loss on impairment loss.

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Answer 2

Question

Chapter 12, Problem 4P

To determine

Goodwill: Goodwill is measured as the excess of the cost of the purchase over the fair value of the identifiable net assets (assets less liabilities) purchased.

(a)

To determine the amount of goodwill recognized, if any, on July 31, 2017.

To determine

(b)

To determine the impairment loss on December 31, 2017.

To determine

(c)

To assume and determine the fair value of the C. Incorporated Division is $1,600,000 instead of $1,850,000. Determine impairment loss on December 31, 2017.

To determine

(d)

To prepare: To prepare the journal entry to record loss on impairment loss.

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Answer 3

Question

Chapter 12, Problem 4P

To determine

Goodwill: Goodwill is measured as the excess of the cost of the purchase over the fair value of the identifiable net assets (assets less liabilities) purchased.

(a)

To determine the amount of goodwill recognized, if any, on July 31, 2017.

To determine

(b)

To determine the impairment loss on December 31, 2017.

To determine

(c)

To assume and determine the fair value of the C. Incorporated Division is $1,600,000 instead of $1,850,000. Determine impairment loss on December 31, 2017.

To determine

(d)

To prepare: To prepare the journal entry to record loss on impairment loss.

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Answer 4

Question

Chapter 12, Problem 4P

To determine

Goodwill: Goodwill is measured as the excess of the cost of the purchase over the fair value of the identifiable net assets (assets less liabilities) purchased.

(a)

To determine the amount of goodwill recognized, if any, on July 31, 2017.

To determine

(b)

To determine the impairment loss on December 31, 2017.

To determine

(c)

To assume and determine the fair value of the C. Incorporated Division is $1,600,000 instead of $1,850,000. Determine impairment loss on December 31, 2017.

To determine

(d)

To prepare: To prepare the journal entry to record loss on impairment loss.

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Answer 5

Chapter 12, Problem 4P

To determine

Goodwill: Goodwill is measured as the excess of the cost of the purchase over the fair value of the identifiable net assets (assets less liabilities) purchased.

(a)

To determine the amount of goodwill recognized, if any, on July 31, 2017.

To determine

(b)

To determine the impairment loss on December 31, 2017.

To determine

(c)

To assume and determine the fair value of the C. Incorporated Division is $1,600,000 instead of $1,850,000. Determine impairment loss on December 31, 2017.

To determine

(d)

To prepare: To prepare the journal entry to record loss on impairment loss.

Answer 6

Chapter 12, Problem 4P

To determine

Goodwill: Goodwill is measured as the excess of the cost of the purchase over the fair value of the identifiable net assets (assets less liabilities) purchased.

(a)

To determine the amount of goodwill recognized, if any, on July 31, 2017.

Answer 7

Chapter 12, Problem 4P

To determine

Goodwill: Goodwill is measured as the excess of the cost of the purchase over the fair value of the identifiable net assets (assets less liabilities) purchased.

(a)

To determine the amount of goodwill recognized, if any, on July 31, 2017.

Answer 8

To determine

(b)

To determine the impairment loss on December 31, 2017.

Answer 9

To determine

(b)

To determine the impairment loss on December 31, 2017.

Answer 10

To determine

(c)

To assume and determine the fair value of the C. Incorporated Division is $1,600,000 instead of $1,850,000. Determine impairment loss on December 31, 2017.

Answer 11

To determine

(c)

To assume and determine the fair value of the C. Incorporated Division is $1,600,000 instead of $1,850,000. Determine impairment loss on December 31, 2017.

Answer 12

To determine

(d)

To prepare: To prepare the journal entry to record loss on impairment loss.

Answer 13

To determine

(d)

To prepare: To prepare the journal entry to record loss on impairment loss.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 12 - Prob. 1Q Ch. 12 - Prob. 2Q Ch. 12 - Prob. 3Q Ch. 12 - Prob. 4Q Ch. 12 - Prob. 5Q Ch. 12 - Prob. 6Q Ch. 12 - Prob. 7Q Ch. 12 - Prob. 8Q Ch. 12 - Prob. 9Q Ch. 12 - Prob. 10Q

Goodwill : Goodwill is measured as the excess of the cost of the purchase over the fair value of the identifiable net assets (assets less liabilities) purchased. (a) To determine the amount of goodwill recognized, if any, on July 31, 2017.

Goodwill: Goodwill is measured as the excess of the cost of the purchase over the fair value of the identifiable net assets (assets less liabilities) purchased. (a) To determine the amount of goodwill recognized, if any, on July 31, 2017.

(b) To determine the impairment loss on December 31, 2017.

(c) To assume and determine the fair value of the C. Incorporated Division is $1,600,000 instead of $1,850,000. Determine impairment loss on December 31, 2017.

(d) To prepare: To prepare the journal entry to record loss on impairment loss.

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Chapter 12 Solutions

Goodwill: Goodwill is measured as the excess of the cost of the purchase over the fair value of the identifiable net assets (assets less liabilities) purchased.

(a)

To determine the amount of goodwill recognized, if any, on July 31, 2017.

(b)

To determine the impairment loss on December 31, 2017.

(c)

To assume and determine the fair value of the C. Incorporated Division is $1,600,000 instead of $1,850,000. Determine impairment loss on December 31, 2017.

(d)

To prepare: To prepare the journal entry to record loss on impairment loss.