Question: 4.5 points Question On June 31, 2019. Mati Ca squired all of the common mack of Golden Company, which become a division of Majestic Co.

4.5 points Question On June 31, 2019. Mati Ca squired all of the common mack of Golden Company, which become a division of Majestic Co. Golden reported the following statement of financial position at the time of the acquisition: Golden Company Statement of Financial Position Aca Equity and Plantsets (ne 51,250,000 Slure capital ordinary $1,045,000 le 370,000 Rendering 1,000,000 Kecelables 750,000 Accounts payable 675.000 Cach 350.000 52.720.000 Toulaquity and liabilities $2.720.000 An appel indicated that the fair value of the inventory w $375,000) and the fair value of the plant assets was $1,450,000. The agreed purchase price was $3,000,000, and this amount was paid in ashto the previous own or Golden Company Required: Prepare the entry to record the purchase of Golden Company b. Assume that the carrying amount of Golden Company division's net assets, including goodwil is $2,800,000. The recoverable amount of the division is estimated to be $ 3.200,000. Prepare the joumal entry to record the impairment loss (if any) on December 31, 2019 For the toolbar, press LT-110P ALTINFOMA BI VS Paragraph Open Sans 12.8 T. 3 !!! X POWERED BY TINY 4.5 points Question On June 31, 2019. Mati Ca squired all of the common mack of Golden Company, which become a division of Majestic Co. Golden reported the following statement of financial position at the time of the acquisition: Golden Company Statement of Financial Position Aca Equity and Plantsets (ne 51,250,000 Slure capital ordinary $1,045,000 le 370,000 Rendering 1,000,000 Kecelables 750,000 Accounts payable 675.000 Cach 350.000 52.720.000 Toulaquity and liabilities $2.720.000 An appel indicated that the fair value of the inventory w $375,000) and the fair value of the plant assets was $1,450,000. The agreed purchase price was $3,000,000, and this amount was paid in ashto the previous own or Golden Company Required: Prepare the entry to record the purchase of Golden Company b. Assume that the carrying amount of Golden Company division's net assets, including goodwil is $2,800,000. The recoverable amount of the division is estimated to be $ 3.200,000. Prepare the joumal entry to record the impairment loss (if any) on December 31, 2019 For the toolbar, press LT-110P ALTINFOMA BI VS Paragraph Open Sans 12.8 T. 3 !!! X POWERED BY TINY

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