... goodwill impairment be tested annually for each reporting unit Discuss the necessary steps of the goodwill impairment test 2-12 Test Bank to Accompany Jeter and Chaney Advanced Accounting Briefly ... each company was: Rich, $1,270,000; Jordan, $360,000 2-10 Test Bank to Accompany Jeter and Chaney Advanced Accounting An investment banking house estimated that the fair value of Cannon Company's ... Plant and equipment of $2,343,000 d An ordinary gain of $108,000 2-6 26 Test Bank to Accompany Jeter and Chaney Advanced Accounting On May 1, 2013, the Phil Company paid $1,200,000 for 80% of...