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 wi carrying amounts totaling $1,456, including goodwill of $920. Seller's reporting unit fair value is assessed at $1,289 and includes two nternally developed unrecognized intangible assets (a patent and a customer list with fair values of $301 and $141, respectively). The following table summarizes current financial information for the Sellers reporting unit: Carrying Fair Values $158 Amounts Tangible assets, net Recognized intangible assets, net Goodwill Unrecognized intangible assets $94 442 517 920 442
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An impairment loss is recognized when the carrying value or the book value of the asset is more than the recoverable amount of an asset. In other words, when the recoverable amount (fair value) of an asset reduces below the carrying value of an asset, the difference in the amount is determined as an impairment loss.
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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: Carrying Fair Amounts Values Tangible assets, net Recognized intangible assets, net Goodwill $97 $146 393 435 660 Unrecognized intangible assets 393 a. Determine the amount of any goodwill impairment for Alomar's Sellers reporting unit. b. After recognition of any goodwill impairment loss, what are the reported carrying amounts for the following assets of Alomar's…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 $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: Carrying Fair Amounts Values Tangible assets, net Recognized intangible assets, net Goodwill $97 $146 393 435 660 Unrecognized intangible assets 393 a. Determine the amount of any goodwill impairment for Alomar's Sellers reporting unit. b. After recognition of any goodwill impairment loss, what are the reported carrying amounts for the following assets of Alomar's…
- 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 $1,266, including goodwill of $840. Seller's reporting unit fair value is assessed at $1,168 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $244 and $87, respectively). The following table summarizes current financial information for the Sellers reporting unit: Tangible assets, net Recognized intangible assets, net Goodwill Unrecognized intangible assets a. Goodwill impairment loss b. Tangible assets, net Goodwill Patent Customer list Carrying Amounts $95 331 840 0 Amounts Fair Values $150 a. Determine the amount of any goodwill impairment for Alomar's Sellers reporting unit. b. After recognition of any goodwill impairment…lomar 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 $1,094, including goodwill of $755. Seller’s reporting unit fair value is assessed at $1,028 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $199 and $56, respectively). The following table summarizes current financial information for the Sellers reporting unit: Carrying Amounts Fair Values Tangible assets, net $ 84 $137 Recognized intangible assets, net 255 326 Goodwill 755 ? Unrecognized intangible assets –0– 255 Determine the amount of any goodwill impairment for Alomar’s Sellers reporting unit.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 $1,192, including goodwill of $705. Seller’s reporting unit fair value is assessed at $1,184 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $272 and $112, respectively). The following table summarizes current financial information for the Sellers reporting unit: CarryingAmounts FairValues Tangible assets, net $103 $154 Recognized intangible assets, net 384 453 Goodwill 705 ? Unrecognized intangible assets 0 384 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 $1,094, including goodwill of $755. Seller’s fair value is assessed at $1,028 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $199 and $56, respectively). The following table summarizes current financial information for the Sellers reporting unit:a. Determine the amount of any goodwill impairment for Alomar’s Sellers reporting unit.b. After recognition of any goodwill impairment loss, what are the reported carrying amounts for the following assets of Alomar’s reporting unit Sellers?• Tangible assets, net.• Goodwill.• Patent.• Customer list.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 $1,043, including goodwill of $615. Seller's reporting unit fair value is assessed at $990 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $165 and $145, respectively). The following table summarizes current financial information for the Sellers reporting unit: Tangible assets, net Recognized intangible assets, net Goodwill Unrecognized intangible assets a. Goodwill impairment loss b. Tangible assets, net Goodwill Patent Customer list Carrying Amounts Amounts $118 310 615 0 a. Determine the amount of any goodwill impairment for Alomar's Sellers reporting unit. b. After recognition of any goodwill impairment loss, what are 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 had recognized net assets with carrying amounts totaling $1,043, including goodwill of $615. Seller’s reporting unit fair value is assessed at $990 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $165 and $145, respectively). The following table summarizes current financial information for the Sellers reporting unit: CarryingAmounts FairValues Tangible assets, net $118 $178 Recognized intangible assets, net 310 353 Goodwill 615 ? Unrecognized intangible assets 0 310 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 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…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 $1,316, including goodwill of $795. Seller’s fair value is assessed at $1,291 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $273 and $133, respectively). The following table summarizes current financial information for the Sellers reporting unit: CarryingAmounts FairValues Tangible assets, net $ 115 $ 144 Recognized intangible assets, net 406 463 Goodwill 795 ? Unrecognized intangible assets 0 406 Total $ 1,316 $ 1,291 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…