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Author Question: Coyote Company acquired Wolfe, Inc. three years ago, and the purchase included $88,000 of goodwill. ... (Read 360 times)

mynx

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on: Feb 18, 2020
Coyote Company acquired Wolfe, Inc. three years ago, and the purchase included $88,000 of goodwill. Wolfe's goodwill now has a fair value of $73,920 - how would Coyote account for this difference?
◦ A journal entry will be made - debiting Loss on Impairment of Goodwill for $14,080 and crediting Goodwill for $14,080.
◦ Goodwill is amortized - usually on a straight-line basis, so the annual amortization will be adjusted.
◦ The account Goodwill will be debited for $14,080 and Loss on Goodwill will be credited for $14,080.
◦ The difference will be written off using an allowance account.
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
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Marked as best answer by mynx on Feb 18, 2020

momolu

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Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Alison Catlin

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Reply #2 on: May 2, 2022
thanks


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