Twilight corporation acquired end-of-the-world products on, Ask an Expert

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Twilight Corporation acquired End-of-the-world Products on January 1, 2014 for $6,400,000 and recorded goodwill of $1,200,000 as a result of that purchase. At December 31, 2015, the End-of-the-world products division had a fair value of $5,440,000. The net indentifiable assets of the division(excluding goodwill) had a fair value of $4,640,000 at that time. What amount of loss on impairment of goodwill should Twilight record in 2015?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9966037

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