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5) Value of Business Acquired and Goodwill | 12 Months Ended
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Dec. 31, 2017
Notes |
5) Value of Business Acquired and Goodwill | 5) Value of Business Acquired and Goodwill Information with regard to value of business acquired is as follows:
|  | December 31
|  | 2017 |  | 2016
Balance at beginning of year |  | $ 7,570,300 |  | $ 8,743,773
Value of business acquired |  | - |  | -
Imputed interest at 7% |  | 39,767 |  | 45,762
Amortization |  | (1,021,308) |  | (1,219,235)
Net amortization charged to income |  | (981,541) |  | (1,173,473)
Balance at end of year |  | $ 6,588,759 |  | $ 7,570,300
Presuming no additional acquisitions, net amortization charged to income is expected to approximate $919,000, $854,000, $766,000, $713,000, and $663,000 for the years 2018 through 2022. Actual amortization may vary based on changes in assumptions or experience. As of December 31, 2017, value of business acquired is being amortized over a weighted average life of 6.1 years. Information with regard to goodwill acquired is as follows: Goodwill of $2,765,570 is not amortized but tested annually for impairment. The annual impairment tests resulted in no impairment of goodwill.

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- Definition The entire disclosure for goodwill. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2144439 + Details
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