Parsons Company Acquired 90% of Roxy Company Several Years Ago

question 2

Multiple Choice

Parsons Company acquired 90% of Roxy Company several years ago and recorded goodwill of $200,000 at that date. During 2015 an analysis of the fair value of Roxy's assets determined an impairment of goodwill in the amount of $50,000. What journal entry would be made by Parsons regarding the impairment of goodwill?

• A) Journal entry A.
• B) Journal entry B.
• C) Journal entry C.
• D) Journal entry D.
• E) Journal entry E.

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