Assume that fair value of the Conchita Division is $1,756,000 instead of $1,850,000. Determine the impairment loss, if any, to be recorded on December 31, 2025. (If answer is zero, do not leave onswer field blank. Enter O for the amount.) The impairment loss $ Compute the amount of goodwill recognized, if any, on July 31, 2025. (If answer is zero, do not leave answer field blank. Enter 0 for the amount.) The amount of goodwill Prepare the journal entry to record the impairment loss, if any, and indicate where the loss would be reported in the income statement. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.) This loss will be reported in income as a separate line item before the subtotal Determine the impairment loss, if any, to be recorded on December 31,2025 . (If answer is zero, do not leave answer field blank. Enter ofor the amount.) The impairment loss On July 31,2025 , Carla Vista Company paid $3,000,000 to acquire all of the common stock of Conchita Incorporated, which became a division (a reporting unit) of Carla Vista. Conchita reported the following balance sheet at the time of the acquisition. It was determined at the date of the purchase that the fair value of the identifiable net assets of Conchita was $2,700,000, Over the next 6 months of operations, the newly purchased division experienced operating losses. In addition, it now appears that it will generate substantial losses for the foreseeable future. At December 31,2025, Conchita reports the following balance sheet information. Finally, it is determined that the fair value of the Conchita Division is $1,850,000. Assume that fair value of the Conchita Division is $1,756,000 instead of $1,850,000. Determine the impairment loss, if any, to be recorded on December 31, 2025. (If answer is zero, do not leave onswer field blank. Enter O for the amount.) The impairment loss $ Compute the amount of goodwill recognized, if any, on July 31, 2025. (If answer is zero, do not leave answer field blank. Enter 0 for the amount.) The amount of goodwill Prepare the journal entry to record the impairment loss, if any, and indicate where the loss would be reported in the income statement. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.) This loss will be reported in income as a separate line item before the subtotal Determine the impairment loss, if any, to be recorded on December 31,2025 . (If answer is zero, do not leave answer field blank. Enter ofor the amount.) The impairment loss On July 31,2025 , Carla Vista Company paid $3,000,000 to acquire all of the common stock of Conchita Incorporated, which became a division (a reporting unit) of Carla Vista. Conchita reported the following balance sheet at the time of the acquisition. It was determined at the date of the purchase that the fair value of the identifiable net assets of Conchita was $2,700,000, Over the next 6 months of operations, the newly purchased division experienced operating losses. In addition, it now appears that it will generate substantial losses for the foreseeable future. At December 31,2025, Conchita reports the following balance sheet information. Finally, it is determined that the fair value of the Conchita Division is $1,850,000
