On december 31 it was estimated that goodwill of 6000000, Financial Accounting

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On december 31 it was estimated that goodwill of 6000000

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 paten

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Financial Accounting: On december 31 it was estimated that goodwill of 6000000

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Financial Accounting: On december 31 it was estimated that goodwill of 6000000

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