In 2018, a corporation purchased a small business for $250,000. The market value of the...
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Accounting
In 2018, a corporation purchased a small business for $250,000. The market value of the small business's assets was $400,000, and the market value of the liabilities was $200,000. The corporation recorded goodwill of $50,000 at the time of acquisition. At the end of 2019, it measured goodwill and found it had a remaining fair value of only $20,000. At year-end 2019, the corporation will _____
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