Determine the amount of any goodwill impairment

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Reference no: EM131221378

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 $1,110, including goodwill of $740. Seller’s fair value is assessed at $912 and includes two internally developed unrecognized intangible assets (a patent and a customer list with fair values of $181 and $101, respectively). The following table summarizes current financial information for the Sellers reporting unit: Carrying Amounts Fair Values Tangible assets, net $ 88 $ 121 Recognized intangible assets, net 282 349 Goodwill 740 ? Unrecognized intangible assets 0 282 Total $ 1,110 $ 912

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 book values for the following assets of Alomar’s reporting unit Sellers?

Tangible Asset, Net

Goodwill

Patent

Customer List

Reference no: EM131221378

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