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Weaver Corporation purchased Maranda Company 3 years ago and at that time recorded goodwill of $600,000. The Division's net assets, including the goodwill, have a

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Weaver Corporation purchased Maranda Company 3 years ago and at that time recorded goodwill of $600,000. The Division's net assets, including the goodwill, have a carrying amount of $1,200,000. The fair value of the division is estimated to be $1,100,000. Required: a. Prepare Weaver's journal entry, if necessary, to record impairment of the goodwill. b. Determine the carrying amount of goodwill after your assessment in Part (a)

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