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 $1,087, including goodwill of $580. Seller’s reporting unit 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 the Sellers reporting unit:     Carrying Amounts   Fair Values Tangible assets, net $157   $185 Recognized intangible assets, net 350   389 Goodwill 580   ? Unrecognized intangible assets 0   350     Determine the amount of any goodwill impairment for Alomar’s Sellers reporting unit. After recognition of any goodwill impairment loss, what are the reported carrying amounts for the following assets of Alomar’s reporting unit Sellers?

Required information PA9-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods [LO 9-2, LO 9-3] [The following information applies to the questions displayed below.] At the beginning of the year, Shamrock Unlimited bought three used machines. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Details for Machine A are provided below. Cost of the asset Installation costs Renovation costs prior to use Repairs after production began Saved $9,400 840 720 590 Year 2 units-of-production depreciation expense PA9-1 (Algo) Part 4 4. Compute year 2 units-of-production depreciation expense for Machine B, assuming a capitalized cost of $43,680, an estimated life of 30,000 hours, $4,500 residual value, and actual year 2 use of 8,000 hours. (Do not round intermediate calculations.)

Please help me.  Fast solution.  Thankyou.

FASB recently issued a Proposed Accounting Standard Update on impairment for intangible assets.  What is the primary purpose for FASB to issue Proposed Accounting Standards Updates?

On July 1, 2020, Sheffield Ltd., a publicly listed company, acquired assets from Bramble Ltd. On the transaction date, a reliable, independent valuator assessed the fair values of these assets as follows: Manufacturing plant (building #1)   $399,580 Storage warehouse (building #2)   209,940 Machinery (in building #1)   74,700 Machinery (in building #2)   45,000 The buildings are owned by the company, and the land that the buildings are situated on is owned by the local municipality and is provided free of charge to the owner of the buildings to encourage local employment.In exchange for the acquisition of these assets, Sheffield issued 145,750 common shares. Sheffield’s shares are thinly traded (that is, traded in relatively low volume leading to more volatile price changes than most public companies). In the most recent sale of Sheffield’s shares on the Toronto Stock Exchange, 510 shares were sold for $5 per share. At the time of acquisition, both buildings were…

A-7

On July 1, 2020, Sheffield Ltd., a publicly listed company, acquired assets from Bramble Ltd. On the transaction date, a reliable, independent valuator assessed the fair values of these assets as follows: Manufacturing plant (building #1)   $399,580 Storage warehouse (building #2)   209,940 Machinery (in building #1)   74,700 Machinery (in building #2)   45,000 The buildings are owned by the company, and the land that the buildings are situated on is owned by the local municipality and is provided free of charge to the owner of the buildings to encourage local employment.In exchange for the acquisition of these assets, Sheffield issued 145,750 common shares. Sheffield’s shares are thinly traded (that is, traded in relatively low volume leading to more volatile price changes than most public companies). In the most recent sale of Sheffield’s shares on the Toronto Stock Exchange, 510 shares were sold for $5 per share. At the time of acquisition, both buildings…