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Questions about homework regarding impairment and consolidation worksheets. Award: 5.00 points Alomar Co., a consolidated enterprise, conducted an impaiment review for each of its reporting
Questions about homework regarding impairment and consolidation worksheets.
Award: 5.00 points Alomar Co., a consolidated enterprise, conducted an impaiment 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 S1,087, including goodwill of $580. Seller's fair value is assessed at $1,036 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $242 and $108, respectively). The following table summarizes current financial information for the Sellers reporting unit: Fair Values Tangible assets, net Recognized intangible assets, net Goodwill Unrecognized intangible assets Total Carrying Amounts S 157 350 580 389 350 $1,036 S 1,087 a. Determine the amount of any goodwill impairment for Alomar's Sellers reporting unit. b. After recognition of any goodwill impairment loss, what are the reported carrying amounts for the following assets of Alomar's reporting unit Sellers? a. Goodwill impairment loss b. Tangible assets, net Goodwill Patent Customer listStep by Step Solution
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