Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. we know that facebook acquired two companies in 20

We know that Facebook acquired two companies in 2014. If Facebook took a goodwill impairment...

50.1K

Verified Solution

Question

Accounting

image
We know that Facebook acquired two companies in 2014. If Facebook took a goodwill impairment worth of $1 million in the year after the acquisition, how was Facebook's income statement and balance sheet affected by this impairment in 2015? Ignore taxes and choose the choice that reflects all affected accounts. O A. Net income decreased by 1 million and assets decreased by 1 million O B. Net income decreased by 1 million and assets increased by 1 million O C. No impact on income statement and balance sheet O D. Net income decreased by 1 million, assets decreased by 1 million, and retained earnings decreased by 1 million

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

Evaluate the integral. ∫4−2. (1/(x+5)((x^2)+16)) dx

Biology
1.2K views

1.Water was used as a negative control. If you had observed the water change in color...

Physics
1.2K views

einstein model take that in solid state, there are 3N normal mode vibration that all have...

Mechanical Engineering
1.2K views

In the carburizing of 1018 steel... The carbon concentration will be equal to or greater than...

Physics
1.2K views

and diffraction 1 In interference distance between bright and dark is same but in diffraction...

Basic Math
1.2K views

You earn $11 per hour working at a grocery store during the summer. The function...

Algebra
1.2K views

April shoots an arrow upward into the air at a speed of 32 feet per...

Accounting
1.2K views

Answer

Accounting
1.2K views

According to the study mentioned in the text, which of the following is true about...

Accounting
1.2K views

Please answer B2 I provided the answers to B1 (and by Jan 28 for B1...

Accounting
1.2K views

Tanner Company has old equipment with a book value of $180,000 and a remaining five-year...

Finance
1.2K views

Given the Characteristic line of firm A with an alpha of -0.2% and a beta...