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

question 66

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 Russian ruble,how much goodwill impairment loss should be reported on Barcode's consolidated statement of income for 20X6?

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

---

Definitions:

Court-Packing

A strategy to manipulate the composition and decisions of a judiciary body, especially the Supreme Court, by increasing the number of judges to obtain favorable rulings.

Constitutional Protections

The safeguards guaranteed by a constitution that protect the rights and freedoms of individuals and groups from infringement by the government.

Mary McLeod Bethune

An influential African American educator, stateswoman, philanthropist, humanitarian, womanist, and civil rights activist in the United States during the early 20th century.