is Question: 5 pts R17 of 19 (2 complete) 2020Cristin Electronics purchased Walton Electronics, paying $2 3 million in a note payable. The market value of Walton Electronics' assets was $37 million, and Walton Electronics had abilities of Cequired 1. Compute the cost of the goodwill purchased by Cristin Electronics 2. Record the purchase by Cristin Electronics 3. AL 2020 year end, the annual review of goodwill value indicated no impairment of goodwill. Record the entry Cristin will make for goodwill at December 31, 2020 4. Al 2021 year end, the annual review of goodwill value indicated a 30 percent impairment of the Walton Electronics goodwil Record the entry for the goodwill impairment at December 31, 2021 Requirement 1, Compute the cost of the goodwill purchased by Cristin Electronics (Enter the amount in dollars, not millions.) The cost of the goodwill purchased by Cristin Electronics was $ Requirement 2. Record the purchase by Cristin Electronics (Enter amounts in dollars, not millions. Record debits first, then credits. Exclude explanations from journal entries. If no entry is requir required on the first line of the journal entry table.) General Journal Date Account Titles and Explanations Debit 2020 Dec Credit 31 Choose from any list or enter any number in the input fields and then continue to the next question HE Type here to search Si 99 020, Colonies purchased WaRon ENTONCS, paying $2.3 milion in a role payabile. The market value of Waton Electronics' assols was $3.7 million, and Walton Electronics had labides of $17 quired Compute the cost of the goodwill purchased by Cristin Electronics Record the purchase by Cristin Electronics A1 2020 year end, the annual review of goodwill value indicated no impairment of goodwill. Record the entry Cristin will make for goodwill at December 31, 2020 At 2021 year end the annual review of goodwill value indicated a 30 percent impairment of the Walton Electronics goodwill. Record the entry for the goodwill impairmont at December 31, 2021. equirement 3. A 2020 year end, the annual review of goodwill value indicated no impairment of goodwill. Record the entry Cristin wil make for goodwill at December 31, 2020 (Enter amounts in dollars, no debits first, then credits. Exclude explanations from 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. Al 2021 year and the annual review of goodwill value indicated a 30 percent impairment of the Walton Electronics goodwil Record the entry for the goodwill impairment at December 31, 2021 (En Choose from any it or enter any number in the input helds and then continue to the next question Type here to search R! 4 0 ENG o E 15. Required 1. Compute the cost of the goodwill purchased by Cristin Electronics 2. Record the purchase by Cristin Electronics 3. At 2020 year end, the annual review of goodwill value indicated no impairment of goodwill. Record the entry Cristin will make for goodwill at December 31, 2020. 4. At 2021 year end, the annual review of goodwill value indicated a 30 percent impairment of the Walton Electronics goodwil. Record the entry for the goodwill impairment at December 31, 202 Requirement 4. At 2021 year and the annual review of goodwill value indicated a 30 percent impairment of the Walton Electronics goodwill. Record the entry for the goodwill impairment at Decemt dollars, not millions. Record debits first, then credits. Exclude explanations from journal entries. If no entry is required, select "No entry required" on the first line of the journal entry to General Journal Date Account Titles and Explanations Debit Credit 2021 Dec 31 Choose from any list or enter any number in the input fields and then continue to the next question II Type here to search 98 8. is Question: 5 pts R17 of 19 (2 complete) 2020Cristin Electronics purchased Walton Electronics, paying $2 3 million in a note payable. The market value of Walton Electronics' assets was $37 million, and Walton Electronics had abilities of Cequired 1. Compute the cost of the goodwill purchased by Cristin Electronics 2. Record the purchase by Cristin Electronics 3. AL 2020 year end, the annual review of goodwill value indicated no impairment of goodwill. Record the entry Cristin will make for goodwill at December 31, 2020 4. Al 2021 year end, the annual review of goodwill value indicated a 30 percent impairment of the Walton Electronics goodwil Record the entry for the goodwill impairment at December 31, 2021 Requirement 1, Compute the cost of the goodwill purchased by Cristin Electronics (Enter the amount in dollars, not millions.) The cost of the goodwill purchased by Cristin Electronics was $ Requirement 2. Record the purchase by Cristin Electronics (Enter amounts in dollars, not millions. Record debits first, then credits. Exclude explanations from journal entries. If no entry is requir required on the first line of the journal entry table.) General Journal Date Account Titles and Explanations Debit 2020 Dec Credit 31 Choose from any list or enter any number in the input fields and then continue to the next question HE Type here to search Si 99 020, Colonies purchased WaRon ENTONCS, paying $2.3 milion in a role payabile. The market value of Waton Electronics' assols was $3.7 million, and Walton Electronics had labides of $17 quired Compute the cost of the goodwill purchased by Cristin Electronics Record the purchase by Cristin Electronics A1 2020 year end, the annual review of goodwill value indicated no impairment of goodwill. Record the entry Cristin will make for goodwill at December 31, 2020 At 2021 year end the annual review of goodwill value indicated a 30 percent impairment of the Walton Electronics goodwill. Record the entry for the goodwill impairmont at December 31, 2021. equirement 3. A 2020 year end, the annual review of goodwill value indicated no impairment of goodwill. Record the entry Cristin wil make for goodwill at December 31, 2020 (Enter amounts in dollars, no debits first, then credits. Exclude explanations from 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. Al 2021 year and the annual review of goodwill value indicated a 30 percent impairment of the Walton Electronics goodwil Record the entry for the goodwill impairment at December 31, 2021 (En Choose from any it or enter any number in the input helds and then continue to the next question Type here to search R! 4 0 ENG o E 15. Required 1. Compute the cost of the goodwill purchased by Cristin Electronics 2. Record the purchase by Cristin Electronics 3. At 2020 year end, the annual review of goodwill value indicated no impairment of goodwill. Record the entry Cristin will make for goodwill at December 31, 2020. 4. At 2021 year end, the annual review of goodwill value indicated a 30 percent impairment of the Walton Electronics goodwil. Record the entry for the goodwill impairment at December 31, 202 Requirement 4. At 2021 year and the annual review of goodwill value indicated a 30 percent impairment of the Walton Electronics goodwill. Record the entry for the goodwill impairment at Decemt dollars, not millions. Record debits first, then credits. Exclude explanations from journal entries. If no entry is required, select "No entry required" on the first line of the journal entry to General Journal Date Account Titles and Explanations Debit Credit 2021 Dec 31 Choose from any list or enter any number in the input fields and then continue to the next question II Type here to search 98 8
