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Problem 6 (9 points) Presented below is information related to eepyeighte owhbd by Wamser Corporation at December 31, 2012. haahinr Cost Carrying amount Expected future

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Problem 6 (9 points) Presented below is information related to eepyeighte owhbd by Wamser Corporation at December 31, 2012. haahinr Cost Carrying amount Expected future net cash flows Fair value $3,600,000 3.100.000 2,800,000 1,900,000 Assume Wamser will continue to use this asset in the future. As of December 31, 2012, the ysopyrightshave a remaining useful life of 5ye acatin Instructions (a) Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2012. (b) Prepare the journal entry to record amotisation expense for 2013. (c) The fair value of the capuright at December 31, 2013 is $2,000,000. Prepare the journal e (if any) necessary to rgbrd this increase in fair value. depreara entry machinery

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