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
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 $1,008, including goodwill of $600. Sellers reporting unit 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 | |
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Determine the amount of any goodwill impairment for Alomars Sellers reporting unit.
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After recognition of any goodwill impairment loss, what are the reported carrying amounts for the following assets of Alomars reporting unit Sellers?
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It is telling me the goodwill impairment loss and goodwill is incorrect.
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