Question: Please help me solve this Information has been collected regarding Orange Company's cash-generating unit that includes goodwill. At 31 December 20X5, the assets of the

Please help me solve this

Please help me solve this Information has been collected regarding Orange Company's

Information has been collected regarding Orange Company's cash-generating unit that includes goodwill. At 31 December 20X5, the assets of the Orange Company's cash-generating unit are shown as follows (in millions) on the company's SFP: Accumulated Depreciation Goodwill Equipment Building Patent rights Cost $ 1,199 1,190 6, 11e 1,640 $12,990 2,5ee 1,870 250 $4,620 Net Book Value $1,190 1,550 4,240 1,390 $8,370 An Impalrment test Indicates that the recoverable amount assigned to the assets of this CGU IS $5,350 million. The assets are not separablethey must be operated or sold together as a group. Required: 1. Prepare an adjusting Journal entry to record the Impalrment. (If no entry is required for a transaction/event, select "No Journal entry required" In the first account field. Round your Intermediate percentage answers to the nearest whole number (I.e. 0.12 should be considered as 12%) and final answers to the nearest whole dollar amount. Enter the amounts in millions.) View transaction list View journal entry worksheet NO Transaction Debit Credit 1 1 5,350 730 General Journal Impairment loss Goodwill Accumulated depreciation-Equipment Accumulated amortization-Patent rights Accumulated depreciation-Building 2.500 250 1.870

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