Barcode Corporation Acquired 70% of the Common Stock of a Russian

question 12

Multiple Choice

Barcode Corporation acquired 70% of the common stock of a Russian company on January 1,20X6.The goodwill associated with this acquisition was $12,520.Exchange rates at various dates during 20X6 follow:

Goodwill suffered an impairment of 25 percent during the year.If the functional currency is the U.S.dollar,how much goodwill impairment loss should be reported on Barcode's consolidated statement of income for 20X6?

• A) $3,080
• B) $3,090
• C) $3,100
• D) $3,130

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Definitions:

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