Impaired Goodwill and Amortization of Patent

On April 1, a patent with an estimated useful economic life of 12 years was acquired for $115,200. In addition, on December 31, it was estimated that goodwill of $51,000 was impaired.

a. Record the acquisition of patent. If an amount box does not require an entry, leave it blank.

April 1		fill in the blank f6527bfdefc702e_2	fill in the blank f6527bfdefc702e_3
		fill in the blank f6527bfdefc702e_5	fill in the blank f6527bfdefc702e_6

b. Journalize the adjusting entry on December 31 for the amortization of the patent rights. Do not round intermediate calculations. If an amount box does not require an entry, leave it blank.

Dec. 31		fill in the blank 65be0d0b503404f_2	fill in the blank 65be0d0b503404f_3
		fill in the blank 65be0d0b503404f_5	fill in the blank 65be0d0b503404f_6

c. Journalize the adjusting entry on December 31 for the impaired goodwill. If an amount box does not require an entry, leave it blank.

Dec. 31		fill in the blank f41e0b065fd1ff4_2	fill in the blank f41e0b065fd1ff4_3
		fill in the blank f41e0b065fd1ff4_5	fill in the blank f41e0b065fd1ff4_6