Advanced Accounting
14th Edition
ISBN: 9781260247824
Author: Joe Ben Hoyle, Thomas F. Schaefer, Timothy S. Doupnik
Publisher: RENT MCG
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Question
Chapter 3, Problem 17P
a.
To determine
Determine the amount of any
b.
To determine
Find the carrying amounts for following:
- Tangible assets, net
- Goodwill
- Patent
- Customer List
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Alomar Co., a consolidated enterprise, conducted an impairment review for each of its reporting units. In its qualitative assessment, one particular reporting unit, Sellers, emerged as a candidate for possible goodwill impairment. Sellers had recognized net assets with carrying amounts totaling $1,150, including goodwill of $660. Seller’s reporting unit fair value is assessed at $1,122 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $271 and $122, respectively). The following table summarizes current financial information for the Sellers reporting unit:
CarryingAmounts
FairValues
Tangible assets, net
$97
$146
Recognized intangible assets, net
393
435
Goodwill
660
?
Unrecognized intangible assets
0
393
Determine the amount of any goodwill impairment for Alomar’s Sellers reporting unit.
After recognition of any goodwill impairment loss, what are the reported carrying amounts for…
Alomar Co., a consolidated enterprise, conducted an impairment review for each of its reporting units. In its qualitative assessment, one particular reporting unit, Sellers, emerged as a candidate for possible goodwill impairment. Sellers had recognized net assets with carrying amounts totaling $985, including goodwill of $605. Seller’s reporting unit fair value is assessed at $920 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $115 and $107, respectively). The following table summarizes current financial information for the Sellers reporting unit:
CarryingAmounts
FairValues
Tangible assets, net
$158
$194
Recognized intangible assets, net
222
299
Goodwill
605
?
Unrecognized intangible assets
0
222
Determine the amount of any goodwill impairment for Alomar’s Sellers reporting unit.
After recognition of any goodwill impairment loss, what are the reported carrying amounts for the…
Alomar Co., a consolidated enterprise, conducted an impairment review for each of its reporting units. In its qualitative assessment, one particular reporting unit, Sellers, emerged as a candidate for possible goodwill impairment. Sellers has recognized net assets of $1,428, including goodwill of $925. Seller’s fair value is assessed at $1,235 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $283 and $74, respectively). The following table summarizes current financial information for the Sellers reporting unit:
CarryingAmounts
FairValues
Tangible assets, net
$
146
$
204
Recognized intangible assets, net
357
411
Goodwill
925
?
Unrecognized intangible assets
0
357
Total
$
1,428
$
1,235
Determine the amount of any goodwill impairment for Alomar’s Sellers reporting unit.
After recognition of any goodwill impairment loss, what are the reported carrying amounts for…
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Advanced Accounting
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