16. In Section 35 (Subsequent Measurement) of ASC 820, what guidance is offered for determining the implied fair value of goodwill? What does this mean 19, Comparing Corporate Fair Value Disclosures L

16. In Section 35 (Subsequent Measurement) of ASC 820, what guidance is offered for determining the implied fair value of goodwill? What does this mean

19, Comparing Corporate Fair Value Disclosures Locate the most recent 10-K filings for two companies of your choice, but which are in the same industry. Compare their fair value disclosures. What are some differences between the categories of assets and liabilities the companies measure at fair value regularly? What are some differences in the hierarchy levels used by these companies? Explain these differences, using a tabular format with footnotes as necessary to summarize and explain differences noted.

20. Spoiled Cheese? Recall Frankie's Homemade Cheese Shop from Chapter 7 cases. Assume now that Frankie has finished construction of the new cheese superstore along Route 5 and capitalized $1.9 million related to the project as of the store's opening on 1/1/20X1. As of 12/31/X1, the shop's current carrying value is $1.805 million (assuming a 20-year life for the store and straight-line depreciation). As of 12/31/X1, Frankie's notices that a few negative factors are at play and asks you whether it is required to test the superstore for impairment: 1. A key stock market index (the Dow) has slid 1,500 points, or 6% since the store was opened. 2. Monthly sales have slid by 10% since the store was opened, partially due to a construction project on Route 5 that has reduced traffic flow to the area. 3. As a result of the slide in monthly sales, the store operated at a deficit in October, November, and December of 20X1