December 20X5, the assets of the Orange Company's cash-generating unit are shown as follows (In mlllions)...

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December 20X5, the assets of the Orange Company's cash-generating unit are shown as follows (In mlllions) on the company's SFP: Accumulated Net Book Depreciation Value $1,200 1,270 3,920 Cost $ 1, 200 3,900 5,870 1,140 Goodwill Equipment Building Patent rights 2,630 1,950 260 880 $12,110 $4,840 $7,270 An Impalrment test Indicates that the recoverable amount assigned to the assets of this CGU Is $5,100 million. The assets are not separable-they must be operated or sold together as a group. Requlred: 1. Prepare an adjusting Journal entry to record the Impairment. (If no entry Is requlred for a transactlon/event, select "No Journal entry requlred" In the first account fleld. Round your Intermedlate percentage answers to the nearest whole number (I.e. 0.12 should be consldered as 12%) and final answers to the nearest whole dollar amount. Enter the amounts In mllllons.) Answer is complete but not entirely correct. No Transaction General Journal Debit Credit 1 1 Impairment loss 2,170 Goodwill 1,200 Accumulated depreciation-Equipment 203 Accumulated depreciation-Building 626 X Accumulated amortization-Patent rights 141 O0000 December 20X5, the assets of the Orange Company's cash-generating unit are shown as follows (In mlllions) on the company's SFP: Accumulated Net Book Depreciation Value $1,200 1,270 3,920 Cost $ 1, 200 3,900 5,870 1,140 Goodwill Equipment Building Patent rights 2,630 1,950 260 880 $12,110 $4,840 $7,270 An Impalrment test Indicates that the recoverable amount assigned to the assets of this CGU Is $5,100 million. The assets are not separable-they must be operated or sold together as a group. Requlred: 1. Prepare an adjusting Journal entry to record the Impairment. (If no entry Is requlred for a transactlon/event, select "No Journal entry requlred" In the first account fleld. Round your Intermedlate percentage answers to the nearest whole number (I.e. 0.12 should be consldered as 12%) and final answers to the nearest whole dollar amount. Enter the amounts In mllllons.) Answer is complete but not entirely correct. No Transaction General Journal Debit Credit 1 1 Impairment loss 2,170 Goodwill 1,200 Accumulated depreciation-Equipment 203 Accumulated depreciation-Building 626 X Accumulated amortization-Patent rights 141 O0000

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