Description of this paper

Loading

Alomar Co., a consolidated enterprise, conducted an impairment-(Answered)

Description

Step-by-step Instant Solution


Question

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 $1,008, including goodwill of $600. Seller?s fair value is assessed at $978 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $132 and $142, respectively). The following table summarizes current financial information for the Sellers reporting unit:


?

? Carrying
Amounts
??Fair
? Values
??Tangible assets, net $ 134???? $ 179???
??Recognized intangible assets, net ? 274 ??? ? 327 ??
??Goodwill ? 600 ??? ? ? ??
??Unrecognized intangible assets ? 0 ??? ? 274 ??
?
?????Total $ 1,008 ??? $ 978 ??
?


?

a.

Determine the amount of any goodwill impairment for Alomar?s Sellers reporting unit.

? ?Goodwill Impairment Loss = 402

???????
?

b.

After recognition of any goodwill impairment loss, what are the reported book values for the following assets of Alomar?s reporting unit Sellers?

? ?Tangible Assests net =?
Goodwill= 198
Patent?
Customer List?

I know that A is correct and that Goodwill is =198. What are the other numbers, please show work. The answers are not 179,132,142

? ? ??


ASSETS

 

Goodwill

 

Tangible Assets (net)

 

Recognized intangible assets (net)

 

Unrecognized intangible assets:

 

Patet

 

Customer List

 

Total

 

Solution-A Impairment of Goodwill =

 


 

Carrying Amount

 

$600

 

$134...

 

Paper#9257507 | Written in 27-Jul-2016

Price : $16
SiteLock