Firm W and Firm X both have goodwill and going-concern value worth approximately $1 million. However, only Firm X reports an amortization deduction with respect to its goodwill and going-concern value on its tax return. Can you explain this difference in tax treatment between the two firms

Step-by-step explanation:

Firm W owns the business , both goodwill and going concern value are owned by it. So it has no tax liabilities and chooses not to report in its business tax return.

Firm X may have been acquired, it must amortize both goodwill and going concern for 15 years and that is why reported it on its tax return as deduction.

*Intangible assets that may not be listed on balance sheet during acquisition, must be amortized for 15 years.

x = 17

step-by-step explanation:

1st step: isolate x.

24 - 3x = -27

-24         -24

-3x   =   -51

2nd step: divide.

-3x     =   -51

  3             3

  x       =     17

hope this

sadsdda

step-by-step explanation: