The following information is available for the assets of Saman Ltd . at December 3 1 ,
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Question:
The following information is available for the assets of Saman Ltd at December Year :
Carrying Amount Fair Value
Tangible assets net $ $
Recognized intangible assets net
Internally developed patent
Goodwill
Total $
Required:
The following parts are independent situations.
Part A Assume that the total fair value for all of Samans assets as a group is $
a Calculate the total impairment loss for Year Input the value as positive number. Omit $ sign in your response.
Total impairment loss $
b After recognizing any impairment loss in a what are the reported carrying amounts for assets listed above? Leave no cells blank be certain to enter wherever required. Omit $ sign in your response.
Tangible assets, net $
Recognized intangible assets, net
Internally developed patent
Goodwill
Total $
Part B Assume that the total fair value for all of Samans assets as a group is $
a Calculate the total impairment loss for Year Input the value as positive number. Omit $ sign in your response.
Total impairment loss $
b After recognizing any impairment loss in a what are the reported carrying amounts for assets listed above? Leave no cells blank be certain to enter wherever required. Do not round intermediate calculations. Round final answers to the nearest dollar amount. Omit $ sign in your response.
Tangible assets, net $
Recognized intangible assets, net
Internally developed patent
Goodwill
Total $
Part C Assume that Cyrus acquired all of Samans assets for $ as a business acquisition.
a Determine the amount to allocate to each of the assets listed above on the date of acquisition. Omit $ sign in your response.
Tangible assets, net $
Recognized intangible assets, net
Internally developed patent
Goodwill
Total $
b This part of the question is not part of your Connect assignment.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: