INTERMEDIATE ACCOUNTING-NEXTGEN ACCESS
INTERMEDIATE ACCOUNTING-NEXTGEN ACCESS
17th Edition
ISBN: 9781119659747
Author: Kieso
Publisher: WILEY
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Chapter 12, Problem 8BE
To determine

Goodwill: Goodwill is an intangible asset. Goodwill is a reputation of a business which cannot be easily identified or valued, but it is calculated as part of its value when it is sold.

Impairment: The decrease of recoverable value of fixed assets or goodwill less than the book value is termed as impairment.

To prepare: To prepare the journal entry to record impairment of goodwill.

Given Information: Required data has been presented in the question.

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