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On December 31, 2020, Blue Corporation paid $5561500 to. of the purchase. On December 31, 2022, Blue determines tha amount of Ayayai's net assets on that date is $6211500 (the c What amount of loss on impairment of goodwill should Blue re

On December 31, 2020, Blue Corporation paid $5561500 to. of the purchase. On December 31, 2022, Blue determines tha amount of Ayayai's net assets on that date is $6211500 (the c What amount of loss on impairment of goodwill should Blue re

FINANCIAL ACCOUNTING
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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Current Attempt in Progress On December 31, 2020, Blue Corporation paid $5561500 to acquire Ayayai Company and recorded $1641500 of goodwill as a result of the purchase. On December 31, 2022, Blue determines that the fair value of the Ayayai division is $6511500 and the carrying amount of Ayayai's net assets on that date is $6211500 (the carrying value and the fair value of identifiable net assets are the same). What amount of loss on impairment of goodwill should Blue record at December 31, 2022? $0. $1641500. $1341500. O $300000. eTextbook and Media Save for Later Last saved 1 day ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. Assistance Used Attempts: 0 of 2 used Submit Answer
Transcribed Image Text:Current Attempt in Progress On December 31, 2020, Blue Corporation paid $5561500 to acquire Ayayai Company and recorded $1641500 of goodwill as a result of the purchase. On December 31, 2022, Blue determines that the fair value of the Ayayai division is $6511500 and the carrying amount of Ayayai's net assets on that date is $6211500 (the carrying value and the fair value of identifiable net assets are the same). What amount of loss on impairment of goodwill should Blue record at December 31, 2022? $0. $1641500. $1341500. O $300000. eTextbook and Media Save for Later Last saved 1 day ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. Assistance Used Attempts: 0 of 2 used Submit Answer
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