Core Telecom provides communication services in lowa, Nebraska, the Dakotas, and Montana. Core Telecom purchased goodwill...

Question

Question

Core Telecom provides communication services in lowa, Nebraska, the Dakotas, and Montana. Core Telecom purchased goodwill as

Requirement 1. Journalize the entry to record Core Telecoms purchase of Surety Wireless for $360,000 cash plus a $540,000 no

-34A Question Hel e Teleco dwill as i (Click th Montana. Core Telecom purch ing figures Assets Equity Cash Gain on Disposal G

Answer 1

Answer #1

Date	Account Titles and Explanation	Debit	Credit
	Assets	$ 1,100,000
	Goodwill	$ 330,000
	Liabilities		$ 530,000
	Note Payable		$ 540,000
	Cash		$ 360,000
	To record purchase of Surety Wireless Enterprises

Answer 2