subject
Business, 13.12.2019 20:31 jahnoibenjamin

Pesky corporation acquired all of the outstanding common stock of harman, inc., for $520 million. the fair value of harman's identifiable tangible and intangible assets totaled $582 million, and the fair value of liabilities assumed by pesky was $156 million. pesky performed a goodwill impairment test at the end of its fiscal year ended december 31, 2021. management has provided the following information:

fair value of harman, inc. $ 490 million
fair value of harman's net assets (excluding goodwill) 430 million
book value of harman's net assets (including goodwill) 518 million required:

1. determine the amount of goodwill that resulted from the harman acquisition. (enter your answer in millions (i. e., 10,000,000 should be entered as (i know the answer to this is 84 million)
2. determine the amount of goodwill impairment loss that pesky should recognize at the end of 2016, if any. (enter your answer in millions (i. e., 10,000,000 should be entered as ( i got 20 million but this was wrong, tell me why)
3. if an impairment loss is required, prepare the journal entry to record the loss ( i dnow it is a debit to impairment loss and a credit to goodwill, but i got the value of 20 million wrong. )

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 02:30
Consider the local telephone company, a natural monopoly. the following graph shows the monthly demand curve for phone services and the company’s marginal revenue (mr), marginal cost (mc), and average total cost (atc) curves. 0 2 4 6 8 10 12 14 16 18 20 100 90 80 70 60 50 40 30 20 10 0 price (dollars per subscription) quantity (thousands of subscriptions) d mr mc atc 8, 60 suppose that the government has decided not to regulate this industry, and the firm is free to maximize profits, without constraints. complete the first row of the following table. pricing mechanism short run long-run decision quantity price profit (subscriptions) (dollars per subscription) profit maximization marginal-cost pricing average-cost pricing suppose that the government forces the monopolist to set the price equal to marginal cost. complete the second row of the previous table. suppose that the government forces the monopolist to set the price equal to average total cost. complete the third row of the previous table. under average-cost pricing, the government will raise the price of output whenever a firm’s costs increase, and lower the price whenever a firm’s costs decrease. over time, under the average-cost pricing policy, what will the local telephone company most likely do
Answers: 2
question
Business, 22.06.2019 10:00
How has internet access changed and affected globalization from 2003 to 2013? a ten percent increase in internet access has had little effect on globalization. a twenty percent decrease in internet access has had little effect on globalization. a thirty percent increase in internet access has sped up globalization. a fifty percent decrease in internet access has slowed down globalization.
Answers: 1
question
Business, 22.06.2019 17:00
Jillian wants to plan her finances because she wants to create and maintain her tax and credit history. she also wants to chart out all of her financial transactions for the past federal fiscal year. what duration should jillian consider to calculate her finances? from (march or january )to (december or april)?
Answers: 1
question
Business, 22.06.2019 21:20
Which of the following best describes the advantage of living in a suburban area? a. suburbs give people access to city jobs along with more living space. b. suburbs give people easy access to cultural attractions and high-paying jobs. c. suburbs have the widest availability of low-cost housing of any living area. d. suburbs have the lowest population density of any living area.
Answers: 1
You know the right answer?
Pesky corporation acquired all of the outstanding common stock of harman, inc., for $520 million. th...
Questions
Questions on the website: 13722363