29 Jun 26. Based on the preceding information, what amount of goodwi
Question
22. The fair value of net identifiable assets of a reporting unit of X Company is $300,000. On X Company’s books, the carrying value of this reporting unit’s net assets is $350,000, including $60,000 goodwill. If the fair value of the reporting unit is subsequently $335,000, what amount of goodwill impairment will be recognized for this unit?
A. $0
B. $10,000
C. $25,000
D. $35,000
23. The fair value of net identifiable assets of a reporting unit of Y Company is $270,000. The carrying value of the reporting unit’s net assets on Y Company’s books is $320,000, including $50,000 goodwill. If the reported goodwill impairment for the unit is $10,000, what would be the fair value of the reporting unit?
A. $320,000
B. $310,000
C. $270,000
D. $290,000
Following its acquisition of the net assets of Dan Company, Empire Company assigned goodwill of $60,000 to one of the reporting divisions. Information for this division follows:
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24. Based on the preceding information, what amount of goodwill will be reported for this division if its fair value is determined to be $200,000?
A. $0
B. $60,000
C. $30,000
D. $10,000
25. Based on the preceding information, what amount of goodwill impairment will be recognized for this division if its fair value is determined to be $195,000?
A. $5,000
B. $30,000
C. $60,000
D. $55,000
26. Based on the preceding information, what amount of goodwill impairment will be
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