In 2023, Hanson Incorporated had acquired Peridot Corporation and recorded goodwill of $335 million as a result. The net assets (including goodwill from Hanson's acquisition of Peridot Corporation had a 2024 year-end book value of $670 million. Hanson assessed the fair value of Peridot reporting unit at this date to be $790 million, while the fair value of all of Peridot's identifiable tangible and intangible assets (excluding goodwill) was $721 million. The amount of the impairment loss that Hanson would report for goodwill at the end of 2024 is: Multiple Choice $69 million $0. $120 million. $266 million.

In 2023, Hanson Incorporated had acquired Peridot Corporation and recorded goodwill of $335 million as a result. The net assets (including goodwill from Hanson's acquisition of Peridot Corporation had a 2024 year-end book value of $670 million. Hanson assessed the fair value of Peridot reporting unit at this date to be $790 million, while the fair value of all of Peridot's identifiable tangible and intangible assets (excluding goodwill) was $721 million. The amount of the impairment loss that Hanson would report for goodwill at the end of 2024 is: Multiple Choice $69 million $0. $120 million. $266 million.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

In 2023, Hanson Incorporated had acquired Peridot Corporation and recorded goodwill of $335 million as a result. The net assets (including goodwill)
from Hanson's acquisition of Peridot Corporation had a 2024 year-end book value of $670 million. Hanson assessed the fair value of Peridot reporting
unit at this date to be $790 million, while the fair value of all of Peridot's identifiable tangible and intangible assets (excluding goodwill) was $721 million.
The amount of the impairment loss that Hanson would report for goodwill at the end of 2024 is:
Multiple Choice
$69 million.
$0.
$120 million,
$266 million.

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