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. )

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 12:30

Jack should consider job enrichment when designing the new commercial cleaner jobs so that

Answers: 1

Answer

Business, 21.06.2019 13:10

The table below is comparing level of education achieved to the rate of unemployment and the median weekly earnings in 2008. based on the information provided, the unemployment rate decreases the most when moving between which two consecutive educational levels? a. “less than high school” and “high school graduate” b. “high school graduate” and “some college, no degree” c. “associate degree” and “bachelor’s degree” d. “professional degree” and “doctoral degree”

Answers: 1

Answer

Business, 22.06.2019 00:30

Which statement is true about the elements of the interface of a presentation program? a. the status bar appears at the top of the page and displays options to style your slides. b. the tool bar displays the thumbnails of your presentation slides in the order they will appear in the presentation. c. rulers indicate the margins, tabs, and indents in a presentation slide. d. the document area provides a list of commands to create, format, and edit presentations.

Answers: 3

Answer

Business, 22.06.2019 14:30

Turtle corporation produces and sells a single product. data concerning that product appear below: per unit percent of sales selling price $ 150 100 % variable expenses 75 50 % contribution margin $ 75 50 % the company is currently selling 5,600 units per month. fixed expenses are $194,000 per month. the marketing manager believes that a $5,300 increase in the monthly advertising budget would result in a 190 unit increase in monthly sales. what should be the overall effect on the company's monthly net operating income of this change?

Answers: 1

Answer

You know the right answer?

Pesky corporation acquired all of the outstanding common stock of harman, inc., for $520 million. th...

Questions