Stewart company acquired meyer manufacturing on january 1, Ask an Expert

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Stewart Company acquired Meyer Manufacturing on January 1, 2013 for $9,500,000 and recorded goodwill of $2,000,000 as a result of that purchase. At December 31, 2013, Meyer Manufacturing Division had a fair value of $8,200,000. The net identifiable assets of the Division, excluding goodwill, had a fair value of $6,500,000 at that time. What amount of loss on impairment of goodwill should Stewart record in 2013?

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Accounting Basics, Accounting

Category:- Accounting Basics
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