How is the goodwill impairment calculated? I thought it was by adding assets and subtracting the accounts payable for net assets. Then adding goodwill and subtracting the fair value -for Ba X* CSU-GlobalO McGraw-Hill Connect ACT506S Question 1- Module 1 Critical T Xb My Math Solver | bartleezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252FmghmiddleZoomO DocuSignntritical Thinking Assignment 6SavedThe fair values of assets and liabilities held by three reporting units and other information related to the reporting units owned byProver Company are as follows:Reporting UnitAB.Cash & ReceivablesInventory$ 43,000 $115, 100 $ 29,10087,30029, 10058, 20015,200145, 500Land44, 300BuildingsEquipmentAccounts PayableFair Value of Reporting UnitCarrying Value of InvestmentGoodwill Included in Carrying Value228, 000136, 80091, 200668,800770, 00090,300152,000121,600212,80060,800608,000638,400106,40076,00015,200402,800440,80060,800Required:a. Determine the amount, if any, that Prover should report as a goodwill impairment for the current period.b. Determine the amount of goodwill that Prover should report in its current financial statements.Complete this question by entering your answers in the tabs below.Required ARequired BDetermine the amount, if any, that Prover should report as a goodwill impairment for the current period.Goodwill impairmentequiredARequired B >< Prev3 of 3 ENext>I RJ A Dlyp

Goodwill impairment: Goodwill impairment is a charge recorded when goodwill carrying value exceeds…

The fair values of assets and liabilities held by three reporting units and other information related to the reporting units owned by Prover Company are as follows: Reporting Unit A C. Cash & Receivables Inventory Land Buildings Equipment Accounts Payable Fair Value of Reporting Unit Carrying Value of Investment Goodwill Included in Carrying Value 87,300 29, 100 152,000 212,800 60,800 608,000 638,400 106,400 $ 43,000 $115, 100 $ 29,100 58, 200 15,200 121,600 76,000 15,200 402,800 440,800 60,800 145,500 44, 300 228,000 136,800 91, 200 668, 800 770,000 90, 300 Required: a. Determine the amount, if any, that Prover should report as a goodwill impairment for the current period. b. Determine the amount of goodwill that Prover should report in its current financial statements. Complete this question by entering your answers in the tabs below. Required A Required B Determine the amount, if any, that Prover should report as a goodwill impairment for the current period. Goodwill impairment Required A Required B >

The fair values of assets and liabilities held by three reporting units and other information related to the reporting units owned by Prover Company are as follows: Reporting Unit A C. Cash & Receivables Inventory Land Buildings Equipment Accounts Payable Fair Value of Reporting Unit Carrying Value of Investment Goodwill Included in Carrying Value 87,300 29, 100 152,000 212,800 60,800 608,000 638,400 106,400 $ 43,000 $115, 100 $ 29,100 58, 200 15,200 121,600 76,000 15,200 402,800 440,800 60,800 145,500 44, 300 228,000 136,800 91, 200 668, 800 770,000 90, 300 Required: a. Determine the amount, if any, that Prover should report as a goodwill impairment for the current period. b. Determine the amount of goodwill that Prover should report in its current financial statements. Complete this question by entering your answers in the tabs below. Required A Required B Determine the amount, if any, that Prover should report as a goodwill impairment for the current period. Goodwill impairment Required A Required B >

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Chapter1: Financial Statements And Business Decisions

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How is the goodwill impairment calculated? I thought it was by adding assets and subtracting the accounts payable for net assets. Then adding goodwill and subtracting the fair value

-for Ba X
* CSU-Global
O McGraw-Hill Connect ACT506
S Question 1- Module 1 Critical T X
b My Math Solver | bartle
ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddle
Zoom
O DocuSign
nt
ritical Thinking Assignment 6
Saved
The fair values of assets and liabilities held by three reporting units and other information related to the reporting units owned by
Prover Company are as follows:
Reporting Unit
A
B.
Cash & Receivables
Inventory
$ 43,000 $115, 100 $ 29,100
87,300
29, 100
58, 200
15,200
145, 500
Land
44, 300
Buildings
Equipment
Accounts Payable
Fair Value of Reporting Unit
Carrying Value of Investment
Goodwill Included in Carrying Value
228, 000
136, 800
91, 200
668,800
770, 000
90,300
152,000
121,600
212,800
60,800
608,000
638,400
106,400
76,000
15,200
402,800
440,800
60,800
Required:
a. Determine the amount, if any, that Prover should report as a goodwill impairment for the current period.
b. Determine the amount of goodwill that Prover should report in its current financial statements.
Complete this question by entering your answers in the tabs below.
Required A
Required B
Determine the amount, if any, that Prover should report as a goodwill impairment for the current period.
Goodwill impairment
equiredA
Required B >
< Prev
3 of 3 E
Next>
I RJ A D
lyp

Definition Definition Intangible asset that includes proprietary or intellectual property and brand value of a firm. Goodwill is recorded in the books when a firm purchases another firm and the purchase price is more than the fair value of net identifiable assets of the acquired business. The amount of goodwill is recorded on the asset side of the balance sheet (statement of financial position).

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