HENTE File Draw Page Layout Formulas Data Review View Developer Help Fuzzy Lookup PROTECTED VIEW Be carefules from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected Erabia Editing Al Long-Term Operating Assets: Departures from Historical Cost C D 1 Long-Term Operating Assets: Departures from Historical Cost 2 Indefinite-Life Intangible Asset Impairment 3 Genius Auto Malls recently conducted its annual impairment review of the value of its trademark (an indefinite-life 4 Intangible asset). The following information is given: 5 6 Trademark-carrying value $2,500,000 Estimated fair value of the $1,700,000 7 trademark 8 9 Genius Auto Mall estimates the future cash flows related to the trademark for the next 5 years as follows. 10 11 Future Period Cash-Flow Projection Year 1 $800,000 13 Year 2 700,000 14 Year 3 460,000 15 Year 4 140,000 16 Year 5 100,000 17 Total $2,200,000 18 19 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the 20 Instructions tab you will be marked wrong 21 22 Requirement 23. Determine the amount of the impairment loss. 70 a. Use a minus sign or parentheses for impairment loss. 25 27 Saving & Submitting Solution 28 1 Save file to desktop, PROTECTED VIEW Be careful--files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Prot A3 fo B D E 1 Determine the amount of the impairment loss. (Always use cell references and formulas where appropriate to receive full credit. If you 2 copy/paste from the Instructions tab you will be marked wrong.) 3 4 Impairment loss 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20