Calia Corporation acquired Joseph Industries on April 15, 20…

Calia Corporation acquired Joseph Industries on April 15, 2018, and recorded goodwill of $2,500,000 as a result of the purchase.  During an evaluation of their goodwill in conjunction with preparing their year-end financial statements for December 31, 2021, Calia noted the following: Joseph Industries had a fair value of 4,500,000  The net identifiable assets of Joseph Industries (including goodwill) had a carrying value of 4,800,000 What amount of goodwill related to the acquisition of Joseph Industries will Calia Corporation have on their balance sheet after any impairment is recorded as of December 31, 2021.

Lobner’s labs sold 10,000 viral testing kits to Walgreens fo…

Lobner’s labs sold 10,000 viral testing kits to Walgreens for $10/kit.  The sales price included the viral kit itself and the process of testing the sample collected by the kit.  The kit and testing process are deemed to be separate performance obligations.  The kit sells for a stand-alone price of $6 and the testing process is typically sold on a stand-alone basis for $9/test.  If Lobner’s labs delivers the 10,000 kits to Walgreens on April 15th, what amount of revenue can Lobner’s labs report on their income statement on that date, assuming the kits will not be used to collect samples until later in the month?