General Products Company purchased the Special Products Division in 2014 and appropriately recorded $750,000 of goodwill related to the purchase. As of December 31, 2015, the fair value of the Special Products Division is $6,000,000 and is recorded in the General Products books for a total of $5,100,000, including goodwill. An analysis of the assets of the Special Products Division indicates that goodwill of $600,000 exists as of December 31, 2015. 

What goodwill impairment must General Products recognize in 2015?

Answer rating: 100% (QA)

According to the scenario the carrying value of the Special Products Division as of December 31 2015 ... View the full answer