On July 1, 2025, Carla Vista Corporation acquired Sandhill Company for $882,000 cash. At the time...

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On July 1, 2025, Carla Vista Corporation acquired Sandhill Company for $882,000 cash. At the time of purchase, Sandhill's balance sheet showed assets of $759,500 and liabilities of $245,000. The fair value of Sandhill's assets is estimated to be $931,000. (a) Your answer has been saved. See score details after the due date. Compute the amount of goodwill acquired by Carla Vista. Amount of goodwill $ 196000 Attempts: 1 of 1 used (b) On December 31, the fair value of Sandhill is estimated to be $705,600. The carrying value of Sandhill's net identifiable assets, including the goodwill, at year-end, is $735,000. Prepare Carla Vista's journal entry, if necessary, to record an impairment of goodwill. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Account Titles and Explanation Debit Credit SUPPORT On July 1, 2025, Carla Vista Corporation acquired Sandhill Company for $882,000 cash. At the time of purchase, Sandhill's balance sheet showed assets of $759,500 and liabilities of $245,000. The fair value of Sandhill's assets is estimated to be $931,000. (a) Your answer has been saved. See score details after the due date. Compute the amount of goodwill acquired by Carla Vista. Amount of goodwill $ 196000 Attempts: 1 of 1 used (b) On December 31, the fair value of Sandhill is estimated to be $705,600. The carrying value of Sandhill's net identifiable assets, including the goodwill, at year-end, is $735,000. Prepare Carla Vista's journal entry, if necessary, to record an impairment of goodwill. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Account Titles and Explanation Debit Credit SUPPORT