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 $412 million, of which $62 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) $ 318 million 208 million 350 million ercise 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 $380 million. Note: For all requirements, enter your answer in millions (l.e., 10,000,000 should be entered as 10).

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 $412 million, of which $62 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) $ 318 million 208 million 350 million ercise 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 $380 million. Note: For all requirements, enter your answer in millions (l.e., 10,000,000 should be entered as 10).

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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