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Flint Corporation purchased Tamarisk Company 3 years ago and at that time recorded goodwill of...

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Accounting

Flint Corporation purchased Tamarisk Company 3 years ago and at that time recorded goodwill of $450,000. The Tamarisk Division's
net assets, including the goodwill, have a carrying amount of $880,000. The fair value of the division is estimated to be $810,000.
Prepare Flint' journal entry, if necessary, to record impairment of the goodwill. (Credit account titles are automatically indented when
amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit
entry before credit entry.)
Account Titles and Explanation
Debit
Credit
image

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