On September 1, 2018. Vernon Corporation acquired Barlow Enterprises for a cash payment of 5820.000. At the time of purchases. Barlow'S balance sheet showed assets of $610.000. liabilities of $240.000, and owner's equity of $420.000. The fair value of Barlow's assets is estimated to be 5970.000.The liabilities are all estimated to be at fair value. a) Compute the amount of goodwill acquired by Vernon. 120000 b) On December 31, 2020, the fair value of Barlow as a reporting unit is estimated to be $720.000. The carrying value of Vernon's investment in Barlow at year-end is $750.000. The fair value of Barlow's identifiable net asset, excluding the goodwill, is determined to be 655.000 Prepare Vernon's journal entry, if necessary, to record impairment of goodwill. Please use the new standard (Hint: The FASa's new goodwill Impairment testing guidance-ASU 2017-04 is required for public SEC filers for periods beginning after December 15, 2019) Note: Please use integer only. Do not use a S. Use commas in numbers: 3,000 not 3000.

am. 152.

Pritano Company acquired all the net assets of Succo Company on December 31, 2013, for $2,185,400 cash. The balance sheet of Succo Company immediately prior to the acquisition showed:     Book value   Fair value Current assets   $ 871,440   $871,440 Plant and equipment   1,025,090   1,437,590 Total   $1,896,530   $2,309,030           Liabilities   $194,060   $207,670 Common stock   484,800     Other contributed capital   632,900     Retained earnings   584,770     Total   $1,896,530     As part of the negotiations, Pritano agreed to pay the stockholders of Succo $356,690 cash if the post-combination earnings of Pritano averaged $2,185,400 or more per year over the next two years. The estimated fair value of the contingent consideration was $143,480 on the date of the acquisition.             (a) Prepare the journal entry on the books of Pritano to record the acquisition on December 31, 2013. (If no entry is required, select…

In January 1, 2015, Fun company purchased Company A for $40,000 in cash and paid immediately. Fun company assumed all of Company A's assets and assumed Company A's liabilities. company A has assets valued at $60,000 and liabilities valued at $50,000.  question: what is the amount of GOODWILL that should be recorded on Fun company's books? provide the journal entry for the acquisition of company A. Make sure to include account classifications and label debits and credits. please show work so I can understand. Thanks!