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A10-25 Goodwill Impairment (LO10.6): Information has been collected regarding Price Inc.'s cash-generating unit that includes goodwill. At 31 December 20X5, the assets of the Price's
A10-25 Goodwill Impairment (LO10.6): Information has been collected regarding Price Inc.'s cash-generating unit that includes goodwill. At 31 December 20X5, the assets of the Price's CGU are shown as follows (in millions): An impairment test indicates that the recoverable amount assigned to the assets of this CGU is $82,000 million. The assets are not separable-they must be operated or sold together as a group. However, land has an individual fair value less costs of disposal of $14,000. Page 687 Required: 1. Prepare an adjusting journal entry to record the impairment. 2. If the impairment was reversed, how would the reversal be accounted for among the assets in the CGU
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