Exercise 11-31 (Algo) Impairment; goodwill (LO11-8] [The following information applies to the questions displayed below.] In 2022, Alliant Corporation acquired Centerpoint Incorporated for $339 million, of which $59 million was allocated to goodwill. At the end of 2024, management has provided the following information for a required goodwill impairment test: Fair value of Centerpoint Incorporated Book value of Centerpoint's net assets (excluding goodwill) Book value of Centerpoint's net assets (including goodwill) $ 247 million 221 million 280 million Exercise 11-31 (Algo) Part 2 & 3 2. Determine the amount of goodwill reported in the year-end 2024 balance sheet. 3. Determine the amount of the impairment loss assuming that the fair value of Centerpoint is $306 million. Note: For all requirements, enter your answer in millions (i.e., 10,000,000 should be entered as 10). 2. Goodwill million 3. Impairment loss $ 0 million
Exercise 11-31 (Algo) Impairment; goodwill (LO11-8] [The following information applies to the questions displayed below.] In 2022, Alliant Corporation acquired Centerpoint Incorporated for $339 million, of which $59 million was allocated to goodwill. At the end of 2024, management has provided the following information for a required goodwill impairment test: Fair value of Centerpoint Incorporated Book value of Centerpoint's net assets (excluding goodwill) Book value of Centerpoint's net assets (including goodwill) $ 247 million 221 million 280 million Exercise 11-31 (Algo) Part 2 & 3 2. Determine the amount of goodwill reported in the year-end 2024 balance sheet. 3. Determine the amount of the impairment loss assuming that the fair value of Centerpoint is $306 million. Note: For all requirements, enter your answer in millions (i.e., 10,000,000 should be entered as 10). 2. Goodwill million 3. Impairment loss $ 0 million
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Exercise 11-31 (Algo) Impairment; goodwill (LO11-8]
[The following information applies to the questions displayed below.]
In 2022, Alliant Corporation acquired Centerpoint Incorporated for $339 million, of which $59 million was allocated to
goodwill. At the end of 2024, management has provided the following information for a required goodwill impairment test:
Fair value of Centerpoint Incorporated
Book value of Centerpoint's net assets (excluding goodwill)
Book value of Centerpoint's net assets (including goodwill)
$ 247 million
221 million
280 million
Exercise 11-31 (Algo) Part 2 & 3
2. Determine the amount of goodwill reported in the year-end 2024 balance sheet.
3. Determine the amount of the impairment loss assuming that the fair value of Centerpoint is $306 million.
Note: For all requirements, enter your answer in millions (i.e., 10,000,000 should be entered as 10).
2. Goodwill
million
3. Impairment loss
$
0 million](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F50f30582-0345-4e77-a5df-9b607af3c85f%2F6520b35b-481d-4a09-9cd1-efcb9d341910%2Fpw6nq6d_processed.png&w=3840&q=75)
Transcribed Image Text:Exercise 11-31 (Algo) Impairment; goodwill (LO11-8]
[The following information applies to the questions displayed below.]
In 2022, Alliant Corporation acquired Centerpoint Incorporated for $339 million, of which $59 million was allocated to
goodwill. At the end of 2024, management has provided the following information for a required goodwill impairment test:
Fair value of Centerpoint Incorporated
Book value of Centerpoint's net assets (excluding goodwill)
Book value of Centerpoint's net assets (including goodwill)
$ 247 million
221 million
280 million
Exercise 11-31 (Algo) Part 2 & 3
2. Determine the amount of goodwill reported in the year-end 2024 balance sheet.
3. Determine the amount of the impairment loss assuming that the fair value of Centerpoint is $306 million.
Note: For all requirements, enter your answer in millions (i.e., 10,000,000 should be entered as 10).
2. Goodwill
million
3. Impairment loss
$
0 million
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