Connect YouTube coniconeternal browser-08launchUrdichttps%253A%252F%252Fnewconnect.mhed Twitch Utoment chegg shoping apps TV Union lang sping S Help Save & Exit Check my w Ch3 Homework 20 10 1 points Alfonso Inc. acquired 100 percent of the voting shares of BelAire Company on January 1, 2020. In exchange, Alfonso paid $322,250 in cash and issued 100,000 shares of its own $1 par value common stock. On this date, Alfonso's stock had a fair value of $15 per share. The combination is a statutory merger with BelAire subsequently dissolved as a legal corporation. BelAire's assets and liabilities are assigned to a new reporting unit. The following shows fair values for the BelAire reporting unit for January 1, 2020 along with respective carrying amounts on December 31, 2021. book BelAire Reporting Unit Cash Receivables Inventory Patents Customer relationships Equipment (net) Goodwill Accounts payable Long-term liabilities Note: Parentheses indicate a credit balance. Carrying Fair Values 1/1/201 Amounts 12/31/21 $ 86,000 s 47,000 186,250 242,000 226,000 257,000 600,500 702,000 608,500 $74,000 348,000 251,000 576,000 (187,500) (273,000) (621,500) (564,000) Ch3 Homework 20 1 Note: Parentheses indicate a credit balance. Saved shoping apps Tva Utes & mingg 10 poin Sped look Pr References a. Prepare Alfonso's journal entry to record the assets acquired and the liabilities assumed in the BelAire merger on January 1, 2020. Note: Enter cash paid and cash received as two separate amounts. b. On December 31, 2021, Alfonso opts to forgo any goodwill impairment qualitative assessment and estimates that the total fair value of the entire BelAire reporting unit is $1,690,000. What amount of goodwill impairment, if any, should Alfonso recognize on its 2021 income statement? Complete this question by entering your answers in the tabs below. Required A Required B Prepare Alfonso's journal entry to record the assets acquired and the abilities assumed in the BelAire merger on January 1, 2020. Note: Enter cash paid and cash received as two separate amounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Show the amount of cash received and paid as two separate amounts.) View transaction list Journal entry worksheet < Help Save 10 points 1 Skipped eflook Pant References Journal entry worksheet < 1 Record the assets acquired and the liabilities assumed in the BelAire merger on January 1, 2020. Note: Enter debits before credits. Date January 01, 2020 General Journal Debit Credit 10 merger on January 1, 2020. Note: Enter cash paid and cash received as two separate amounts. b. On December 31, 2021, Alfonso opts to forgo any goodwill impairment qualitative assessment and estimates that the total fair value of the entire BelAire reporting unit is $1,690,000. What amount of goodwill impairment, if any, should Alfonso recognize on its 2021 income statement? points Skipped Complete this question by entering your answers in the tabs below. eBook Print References Required A Required B On December 31, 2021, Alfonso opts to forgo any goodwill impairment qualitative assessment and estimates that the total fair value of the entire BelAire reporting unit is $1,690,000. What amount of goodwill impairment, if any, should Alfonso recognize on its 2021 income statement? Goodwill impairment loss < Required A Required B