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(a) V Your answer is correct. Prepare the intangible assets section of Shamrock Golf Inc. at December 31, 2019. SHAMROCK GOLF INC. Intangibles Section of Balance Sheet December 31, 2019 Goodwill 230000 Copyrights 42660 Trade Names 8000 280660 Total Intangible Assets How much amortization expense is included in Shamrock income for the year ended December 31, 2019? Amortization expense 540 SHOW LIST OF ACCOUNTS SHOW ANSWER SHOW SOLUTION LINK TO TEXT LINK TO TEXT LINK TO TEXT v (c) At the end of 2021, Magilke is evaluating the results of the instructional business. Due to fierce competition from online and television (e.g., the Golf Channel), the Old Master reporting unit has been losing money. Its book value is now $420,000. The fair value of the Old Master reporting unit is $340,000. Magilke has collected the following information related to the company's intangible assets. Expected Cash Flows (undiscounted) Intangible Asset Fair Values Trade names $15,000 $5,000 Copyrights 50,000 45,000 Prepare the journal entries required, if any, to record impairments on Shamrock intangible assets. (Assume that any amortization for 2021 has been recorded.) (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.) Account Titles and Explanation Debit Credit SUBMIT ANSWER Attempts: 0 of 4 used SAVE FOR LATER

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