Bramble Inc. purchased Manzanita Marine on June $1,2018$ for $$25,015,000$ and recorded goodwill of $$3,100,000$ in connection with the purchase. At December $31,2021,$ the Manzanita Marine Division had a fair value of $$25,397,000.$ The carrying amount of the net assets of Manzanita $($including goodwill$)$ had a value of $$24,905,000$ at that time.

What amount of loss on impairment of goodwill should Bramble record in $2021?$

Answer rating: 100% (QA)

Bramble paid 25015000 to acquire Manzanita Marine in 2018 and recorded goodwil... View the full answer