Waters Corporation purchased Johnson Company 3 years ago and at that time recorded goodwill of...
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Waters Corporation purchased Johnson Company years ago and at that time recorded goodwill of $ The Johnson Division's net assets, including the goodwill, have a carrying amount of $ The fair value of the division is estimated to be $ Prepare Waters' 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 requilred, select No Entry" for the account titles and enter for the amounts. List debit entry before credit entry. Account Titles and Explanation Deblt Credit 
Waters Corporation purchased Johnson Company years ago and at that time recorded goodwill of $ The Johnson Division's net assets, including the goodwill, have a carrying amount of $ The fair value of the division is estimated to be $
Prepare Waters' 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 requilred, select No Entry" for the account titles and enter for the amounts. List debit entry before credit entry.
Account Titles and Explanation
Deblt
Credit
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