Homework Answers
| Sand Dollar | Impairment loss | $16,400 |
| Salty Dog | Impairment loss | $39,300 |
| Baytowne | NA | $0 |
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Destin Company recently acquired several businesses and recognized goodwill In each acquisition. Destin has allocated the...
Destin Company recently acquired several businesses and recognized goodwill in each acquisition. Destin has allocated the...
Destin Company recently acquired several businesses and recognized goodwill in each acquisition. Destin has allocated the resulting goodwill to its three reporting units: Sand Dollar, Salty Dog, and Baytowne. Destin opts to skip the qualitative assessment and therefore performs a quantitative goodwill impairment review annually. In its current year assessment of goodwill, Destin provides the following individual asset and liability values for each reporting unit: Carrying Amounts Fair Values Sand Dollar Tangible assets $ 247,000 $ 261,900 Trademark 187,000 164,400...
Destin Company recently acquired several businesses and recognized goodwill in each acquisition. Destin has allocated the...
Destin Company recently acquired several businesses and recognized goodwill in each acquisition. Destin has allocated the resulting goodwill to its three reporting units: Sand Dollar, Salty Dog, and Baytowne. Destin opts to skip the qualitative assessment and therefore performs a quantitative goodwill impairment review annually. In its current year assessment of goodwill, Destin provides the following individual asset and liability values for each reporting unit: Carrying Amounts Fair Values Sand Dollar Tangible assets $ 241,000 $ 259,600 Trademark 199,000 173,900...
Jericho Company recently acquired three business recognizing goodwill in each aquisition. The acquired goodwill was allocates...
Jericho Company recently acquired three business recognizing goodwill in each aquisition. The acquired goodwill was allocates to the three reporting units: Apple, Banana, and Carrot. Jericho provides the following information in performing the 2012 annual review for impairment. Carrying Value. Fair Value reporting unit Apple Tangible Assets 300000. 320000. 525000 Trademarks. 20000. 10000 Licenses. 85000. 90000 Liabilities. 20000. 20000 Goodwill. 130000. ? Banana. Tangible Assets. 250000. 400000. 450000 Trademarks. 25000. 50000 Licenses. 18000. 18000 Goodwill. 140000. ? Carrot. Tangible...
Parent Company recently acquired a business appropriately recognizing goodwill in the acquisition at the reporting unit...
Parent Company recently acquired a business appropriately recognizing goodwill in the acquisition at the reporting unit level. The goodwill was allocated to the reporting units: Rexy Inc. Parent provides the following information in performing the 2019 annual review for impairment: Rexy Reporting Unit: Carrying value of net assets including $130,000 of Goodwill equals $540,000; Fair Value of net assets excluding Goodwill equals $400,000; Valuation of Reporting Unit (including Goodwill $525,000). Using the two-step Goodwill Impairment test, compute the amount of...
Lowell Company recently acquired 100% of Boston, which has three businesses units, recognizing goodwill in each...
Lowell Company recently acquired 100% of Boston, which has three businesses units, recognizing goodwill in each acquisition. Boston has allocated its acquired goodwill to its three reporting units: Lexington, Acton, and Chelmsford. Boston provides the following information in performing the 2018 annual review for impairment: Carrying Value Fair Value Fair value of the Unit Lexington Assets other than goodwill 500,000 420,000 525,000 Liabilities (30,000) (20,000) Goodwill 130,000 ? Acton Assets other than goodwill 500,000 560,000 600,000 Liabilities (10,000) (20,000) Goodwill...
Alomar Co., a consolidated enterprise, conducted an impairment review for each of its reporting units. In...
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...
Alomar Co., a consolidated enterprise, conducted an impairment review for each of its reporting units. In...
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. Seller’s 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...
Please bold answers in explanation Alomar Co., a consolidated enterprise, conducted an impairment review for each...
Please bold answers in explanation
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...
Alomar Co., a consolidated enterprise, conducted an impairment review for each of its reporting units. In...
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 $1,087, 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...
Alomar Co., a consolidated enterprise, conducted an impairment review for each of its reporting units. In...
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 $1,542, including goodwill of $935. Seller’s fair value is assessed at $1,392 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $309 and $143, respectively). The following table summarizes current financial information 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 $1,192, 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...
Please bold answers in explanation
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...
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