Goodwill Measurement
Washer Company has a reporting unit resulting from an earlier business combination. The reporting unit’s current assets and liabilities are
| Carrying Amount | Fair Value |
Cash | $ 30,000 | $ 30,000 |
Inventory | 70,000 | 100,000 |
Land | 30,000 | 60,000 |
Buildings | 210,000 | 230,000 |
Equipment | 160,000 | 170,000 |
Goodwill | 150,000 |
|
Notes Payable | 100,000 | 100,000 |
Required
Determine the amount of goodwill to be reported and the amount of goodwill impairment, if any, if the fair value of the reporting unit is determined to be
a. $580,000.
b. $540,000.
c. $500,000.
d. $460,000.
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