Essay
During 2015,Lexie,Inc.acquired Lena,Inc.for $10,000,000.The fair market value of the net assets of Lena,Inc.was $8,500,000 on the date of purchase.During 2018,Lexie,Inc.determined the goodwill resulting from the Lena acquisition was impaired and had a value of $1,000,000.
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(a)$10,000,000 - $8,500,000 = $1,500,000...View Answer
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