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) Exercise 11-31 (Algo) Part 2 & 3 $247 million 221 million 280 million 2. Determine the amount of goodwill reported in the year-end 2024 balance sheet.

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) Exercise 11-31 (Algo) Part 2 & 3 $247 million 221 million 280 million 2. Determine the amount of goodwill reported in the year-end 2024 balance sheet.

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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Question

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)
Exercise 11-31 (Algo) Part 2 & 3
$247 million
221 million
280 million
2. Determine the amount of goodwill reported in the year-end 2024 balance sheet.

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