Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac

تمرين 50

Impaired goodwill and amortization of patent
On December 31, it was estimated that goodwill of $6,000,000 was impaired. In addition, a patent with an estimated useful economic life of 12 years was acquired for 1,500,000 on April 1.
A. Journalize the adjusting entry on December 31 for the impaired goodwill.
B. Journalize the adjusting entry on December 31 for the amortization of the patent rights.