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NISA [10]
2 years ago
9

Freeman Co. acquired another business and paid (among other amounts) $64,800 for its goodwill in 2018. On December 31, 2020, the

net book value of the business is $792,000 and the fair value of the business is $765,000. Determine the amount of goodwill impairment (if any) on December 31, 2020. Assume no impairment losses were recognized on goodwill in prior periods.
Business
1 answer:
agasfer [191]2 years ago
5 0

Answer: $27000

Explanation:

The amount of goodwill impairment on December 31, 2020 will be:

Amount if goodwill = Net book value - Fair value

= $792,000 - $765,000.

= $27000

Therefore, the amount of Goodwill is $27000

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