On December 31, a company had a reporting unit that had a book value of...
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Accounting
On December 31, a company had a reporting unit that had a book value of $950,000 including goodwill of $130,000. As part of the companies annual review of goodwill impairment, Company determined that the fair value of the reporting unit was $890,000. Company assigned $840,000 of the reporting units fair value to its assets and liabilities other than Goodwill. What is the goodwill impairment loss reported on December 31 underGAAP?
$80,000, $110,000, $60,000 or $50,000
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