Business, 05.05.2020 06:28 ghughes665

Kent Company acquired Devon Company on January 1, 2016 for $3,600,000 and recorded goodwill of $400,000 as a result of that purchase. At December 31, 2016, Kent estimated that Devon had a fair value of $3,000,000. The net identifiable assets of the Devon (excluding goodwill) had a book value of $2,700,000 at that time. What amount of loss on impairment of goodwill should Kent record in 2016?

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Kent Company acquired Devon Company on January 1, 2016 for $3,600,000 and recorded goodwill of $400,...

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