In 2020, Carlton Electronics purchased Weston Electronics, paying $2.4 million in a note payable. The market value of Weston Electronics' assets was $3 Required 1. Compute the cost of the goodwill purchased by Carlton Electronics 2. Record the purchase by Carlton Electronics, 3. At 2020 year end, the annual review of goodwill value indicated no impairment of goodwill. Record the entry Carlton will make for goodwill at Decemb 4. At 2021 year end the annual review of goodwill value indicated a 45 percent impairment of the Weston Electronics goodwill. Record the entry for the Requirement 1. Compute the cost of the goodwill purchased by Carlton Electronics. (Enter the amount in dollars, not millions.) The cost of the goodwill purchased by Carlton Electronics was $[ Requirement 2. Record the purchase by Carlton Electronics (Enter amounts in dollars, not millions. Record debits first, then c General Journal Date Account Titles and Explanations Debit Credit 2020 Dec 31 Requirement 3. A 2020 year end the annual review of goodwill value indicated no impairment of goodwill. Record the entry Carlton will make for goodwill at December 31, 2020. (Enter amounts in dollars, no journal entries. If no entry is required, select "No entry required on the first line of the journal entry table.) General Journal Date Account Titles and Explanations Debit Credit 2020 Dec 31 Requirement 4. A: 2021 year end the annual review of goodwill value indicated a 45 percent impairment of the Weston Electronics goodwill record the entry for the goodwill impairment at December 31, 2021 Exclude explanations from journal entries. I no entry is required, select "No entry required" on the first line of the Journal entry table.) General Journal Date Account Titles and Explanations Debit Credit 2021 31 In 2020, Carlton Electronics purchased Weston Electronics, paying $2.4 million in a note payable. The market value of Weston Electronics' assets was $3 Required 1. Compute the cost of the goodwill purchased by Carlton Electronics 2. Record the purchase by Carlton Electronics, 3. At 2020 year end, the annual review of goodwill value indicated no impairment of goodwill. Record the entry Carlton will make for goodwill at Decemb 4. At 2021 year end the annual review of goodwill value indicated a 45 percent impairment of the Weston Electronics goodwill. Record the entry for the Requirement 1. Compute the cost of the goodwill purchased by Carlton Electronics. (Enter the amount in dollars, not millions.) The cost of the goodwill purchased by Carlton Electronics was $[ Requirement 2. Record the purchase by Carlton Electronics (Enter amounts in dollars, not millions. Record debits first, then c General Journal Date Account Titles and Explanations Debit Credit 2020 Dec 31 Requirement 3. A 2020 year end the annual review of goodwill value indicated no impairment of goodwill. Record the entry Carlton will make for goodwill at December 31, 2020. (Enter amounts in dollars, no journal entries. If no entry is required, select "No entry required on the first line of the journal entry table.) General Journal Date Account Titles and Explanations Debit Credit 2020 Dec 31 Requirement 4. A: 2021 year end the annual review of goodwill value indicated a 45 percent impairment of the Weston Electronics goodwill record the entry for the goodwill impairment at December 31, 2021 Exclude explanations from journal entries. I no entry is required, select "No entry required" on the first line of the Journal entry table.) General Journal Date Account Titles and Explanations Debit Credit 2021 31
