Question: 4 4 . On January 1 , 2 0 1 7 , ABC purchased DEF Industries for $ 1 5 0 million. At the time

44.
On January 1,2017, ABC purchased DEF Industries for $150 million. At the time of purchase, DEFs book value was measured at $100 million. On December 31,2018, ABC recognized a $50 million impairment for the purchase. How would ABCs asset side of the balance sheet be impacted?
Fixed Assets would be debited $50 million.
Fixed Assets would be credited $50 million.
Goodwill would be debited $50 million.Goodwill would be credited $50 million.
44. On January 1,2017, ABC purchased DEF Industries for $150 million.

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