Multiple Choice
Parsons Company acquired 90% of Roxy Company several years ago and recorded goodwill of $200,000 at that date. During 2015 an analysis of the fair value of Roxy's assets determined an impairment of goodwill in the amount of $50,000. What journal entry would be made by Parsons regarding the impairment of goodwill?
A) Journal entry A.
B) Journal entry B.
C) Journal entry C.
D) Journal entry D.
E) Journal entry E.
Correct Answer:
Verified
Correct Answer:
Verified
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