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 $1,366, including goodwill of $915. Seller's reporting unit fair value is assessed at $1,181 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $222 and $115, respectively). The following table summarizes current financial information for the Sellers reporting unit: Tangible assets, net Recognized intangible assets, net Goodwill Unrecognized intangible assets Carrying Amounts $114 337 915 0 Fair Values $160 387 ? 337 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?

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 $1,366, including goodwill of $915. Seller's reporting unit fair value is assessed at $1,181 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $222 and $115, respectively). The following table summarizes current financial information for the Sellers reporting unit: Tangible assets, net Recognized intangible assets, net Goodwill Unrecognized intangible assets Carrying Amounts $114 337 915 0 Fair Values $160 387 ? 337 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?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

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 $1,150, including goodwill of $660. Seller's reporting unit fair value is assessed at $1,122 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $271 and $122, respectively). The following table summarizes current financial information for the Sellers reporting unit: Carrying Fair Amounts Values Tangible assets, net Recognized intangible assets, net Goodwill $97 $146 393 435 660 Unrecognized intangible assets 393 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…
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 $1,150, including goodwill of $660. Seller’s reporting unit fair value is assessed at $1,122 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $271 and $122, respectively). The following table summarizes current financial information for the Sellers reporting unit: CarryingAmounts FairValues Tangible assets, net $97 $146 Recognized intangible assets, net 393 435 Goodwill 660 ? Unrecognized intangible assets 0 393 Determine the amount of any goodwill impairment for Alomar’s Sellers reporting unit. After recognition of any goodwill impairment loss, what are the reported carrying amounts for…
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 $1,150, including goodwill of $660. Seller's reporting unit fair value is assessed at $1,122 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $271 and $122, respectively). The following table summarizes current financial information for the Sellers reporting unit: Carrying Fair Amounts Values Tangible assets, net Recognized intangible assets, net Goodwill $97 $146 393 435 660 Unrecognized intangible assets 393 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…
lomar 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 $1,094, including goodwill of $755. Seller’s reporting unit fair value is assessed at $1,028 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $199 and $56, respectively). The following table summarizes current financial information for the Sellers reporting unit: Carrying Amounts Fair Values Tangible assets, net $ 84 $137 Recognized intangible assets, net 255 326 Goodwill 755 ? Unrecognized intangible assets –0– 255 Determine the amount of any goodwill impairment for Alomar’s Sellers reporting unit.
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 $1,266, including goodwill of $840. Seller's reporting unit fair value is assessed at $1,168 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $244 and $87, respectively). The following table summarizes current financial information for the Sellers reporting unit: Tangible assets, net Recognized intangible assets, net Goodwill Unrecognized intangible assets a. Goodwill impairment loss b. Tangible assets, net Goodwill Patent Customer list Carrying Amounts $95 331 840 0 Amounts Fair Values $150 a. Determine the amount of any goodwill impairment for Alomar's Sellers reporting unit. b. After recognition of any goodwill impairment…
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 $1,192, including goodwill of $705. Seller’s reporting unit fair value is assessed at $1,184 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $272 and $112, respectively). The following table summarizes current financial information for the Sellers reporting unit: CarryingAmounts FairValues Tangible assets, net $103 $154 Recognized intangible assets, net 384 453 Goodwill 705 ? Unrecognized intangible assets 0 384 Determine the amount of any goodwill impairment for Alomar’s Sellers reporting unit. After recognition of any goodwill impairment loss, what are the reported carrying amounts for…
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 $1,266, including goodwill of $840. Seller's reporting unit fair value is assessed at $1,168 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $244 and $87, respectively). The following table summarizes current financial information for the Sellers reporting unit: Tangible assets, net Recognized intangible assets, net Goodwill Unrecognized intangible assets Goodwill impairment loss a. b. Tangible assets, net Goodwill Patent Customer list Carrying Amounts 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…
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 wi carrying amounts totaling $1,456, including goodwill of $920. Seller's reporting unit fair value is assessed at $1,289 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $301 and $141, respectively). The following table summarizes current financial information for the Sellers reporting unit: Carrying Fair Amounts Values $94 $158 Tangible assets, net Recognized intangible assets, net Goodwill Unrecognized intangible assets 442 517 920 442 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…
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 has recognized net assets of $1,094, including goodwill of $755. Seller’s fair value is assessed at $1,028 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $199 and $56, respectively). The following table summarizes current financial information for the Sellers reporting unit: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?• Tangible assets, net.• Goodwill.• Patent.• Customer list.
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 $1,043, including goodwill of $615. Seller's reporting unit fair value is assessed at $990 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $165 and $145, respectively). The following table summarizes current financial information for the Sellers reporting unit: Tangible assets, net Recognized intangible assets, net Goodwill Unrecognized intangible assets a. Goodwill impairment loss b. Tangible assets, net Goodwill Patent Customer list Carrying Amounts Amounts $118 310 615 0 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…
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 $985, including goodwill of $605. Seller’s reporting unit fair value is assessed at $920 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $115 and $107, respectively). The following table summarizes current financial information for the Sellers reporting unit: CarryingAmounts FairValues Tangible assets, net $158 $194 Recognized intangible assets, net 222 299 Goodwill 605 ? Unrecognized intangible assets 0 222 Determine the amount of any goodwill impairment for Alomar’s Sellers reporting unit. After recognition of any goodwill impairment loss, what are the reported carrying amounts for the…
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 has recognized net assets of $1,428, including goodwill of $925. Seller’s fair value is assessed at $1,235 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $283 and $74, respectively). The following table summarizes current financial information for the Sellers reporting unit: CarryingAmounts FairValues Tangible assets, net $ 146 $ 204 Recognized intangible assets, net 357 411 Goodwill 925 ? Unrecognized intangible assets 0 357 Total $ 1,428 $ 1,235 Determine the amount of any goodwill impairment for Alomar’s Sellers reporting unit. After recognition of any goodwill impairment loss, what are the reported carrying amounts for…