The following information is available for the assets of Saman Ltd. at December 31, Year 5: Carrying Amount Fair Value Tangible assets (net) $ 1,170 $ 1,185 Recognized intangible assets (net) 675 525 Internally developed patent 0 93 Goodwill 431 Total $ 2,276 Required: The following 3 parts are independent situations. Part A. Assume that the total fair value for all of Saman's assets as a group is $1,970. (a) Calculate the total impairment loss for Year 5. (Input the value as positive number. Omit $ sign in your response.) Total impairment loss $ (b) After recognizing any impairment loss in (a ), what are the reported carrying amounts for assets listed above? (Leave no cells blank - be certain to enter "0" wherever required. Omit $ sign in your response.) Tangible assets, net $ Recognized intangible assets, net Internally developed patent Goodwill Total $ Part B. Assume that the total fair value for all of Saman's assets as a group is $ 1,483. (a) Calculate the total impairment loss for Year 5. (Input the value as positive number. Omit $ sign in your response.) Total impairment loss $ (b) After recognizing any impairment loss in (a), what are the reported carrying amounts for assets listed above? (Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations. Round final answers to the nearest dollar amount. Omit $ sign in your response.) Tangible assets, net $ Recognized intangible assets, net Internally developed patent Goodwill Total $ Part C. Assume that Cyrus acquired all of Saman's assets for $1,970 as a business acquisition. (a) Determine the amount to allocate to each of the assets listed above on the date of acquisition. (Omit $ sign in your response.) Tangible assets, net $ Recognized intangible assets, net Internally developed patent Goodwill Total $
The following information is available for the assets of Saman Ltd. at December 31, Year 5: Carrying Amount Fair Value Tangible assets (net) $ 1,170 $ 1,185 Recognized intangible assets (net) 675 525 Internally developed patent 0 93 Goodwill 431 Total $ 2,276 Required: The following 3 parts are independent situations. Part A. Assume that the total fair value for all of Saman's assets as a group is $1,970. (a) Calculate the total impairment loss for Year 5. (Input the value as positive number. Omit $ sign in your response.) Total impairment loss $ (b) After recognizing any impairment loss in (a ), what are the reported carrying amounts for assets listed above? (Leave no cells blank - be certain to enter "0" wherever required. Omit $ sign in your response.) Tangible assets, net $ Recognized intangible assets, net Internally developed patent Goodwill Total $ Part B. Assume that the total fair value for all of Saman's assets as a group is $ 1,483. (a) Calculate the total impairment loss for Year 5. (Input the value as positive number. Omit $ sign in your response.) Total impairment loss $ (b) After recognizing any impairment loss in (a), what are the reported carrying amounts for assets listed above? (Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations. Round final answers to the nearest dollar amount. Omit $ sign in your response.) Tangible assets, net $ Recognized intangible assets, net Internally developed patent Goodwill Total $ Part C. Assume that Cyrus acquired all of Saman's assets for $1,970 as a business acquisition. (a) Determine the amount to allocate to each of the assets listed above on the date of acquisition. (Omit $ sign in your response.) Tangible assets, net $ Recognized intangible assets, net Internally developed patent Goodwill Total $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:The following information is available for the assets of Saman Ltd. at December 31, Year 5: Carrying Amount Fair Value
Tangible assets (net) $ 1,170 $ 1,185 Recognized intangible assets (net) 675 525 Internally developed patent 0 93
Goodwill 431 Total $ 2,276 Required: The following 3 parts are independent situations. Part A. Assume that the total fair
value for all of Saman's assets as a group is $1,970. (a) Calculate the total impairment loss for Year 5. (Input the value
as positive number. Omit $ sign in your response.) Total impairment loss $ (b) After recognizing any impairment loss in (a
), what are the reported carrying amounts for assets listed above? (Leave no cells blank - be certain to enter "0"
wherever required. Omit $ sign in your response.) Tangible assets, net $ Recognized intangible assets, net Internally
developed patent Goodwill Total $ Part B. Assume that the total fair value for all of Saman's assets as a group is $
1,483. (a) Calculate the total impairment loss for Year 5. (Input the value as positive number. Omit $ sign in your
response.) Total impairment loss $ (b) After recognizing any impairment loss in (a), what are the reported carrying
amounts for assets listed above? (Leave no cells blank - be certain to enter "0" wherever required. Do not round
intermediate calculations. Round final answers to the nearest dollar amount. Omit $ sign in your response.) Tangible
assets, net $ Recognized intangible assets, net Internally developed patent Goodwill Total $ Part C. Assume that Cyrus
acquired all of Saman's assets for $1,970 as a business acquisition. (a) Determine the amount to allocate to each of the
assets listed above on the date of acquisition. (Omit $ sign in your response.) Tangible assets, net $ Recognized
intangible assets, net Internally developed patent Goodwill Total $
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