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teoradom

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  • September 4, 2019 at 10:34 am #544662
    5b3113d6db96bdda635a5622f2acee466d8a208039eb279d31573df3cad76649 80teoradom
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    Hello,

    On Jan’18 P acquires 80% of S. And at the date of the acquisition, goodwill was measured at $20,000. On Dec’18, the goodwill is fully impaired. What is the amount charged to group retained earnings? Ans: $16,000

    I would just like to confirm, what would be the journal entry of the goodwill impairment on P’s accounts? Since P recognizes $20,000 initially on their GW account, if it’s fully impaired, 16,000 is charged to SOPL, then where is the rest of the 4,000 charged to? NCI?

    Alternatively, if it uses the proportionate goodwill method, the full 20,000 will be charged to SOPL. Correct?

    Thanks.

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