Required information [The following information applies to the questions displayed below] In 2019, Alliant Corporation acquired Centerpoint Inc. for $403 million, of which $63 million was allocated to goodwill. At the end of 2021, management has provided the following information for a required goodwill impairment test Fair value of Centerpoint Inc. Book value of Centerpoint's net assets (excluding goodwill) Book value of Centerpoint's net assets (including goodwill) 4 $315 million 277 million 340 million Required: 1. Determine the amount of the impairment loss. (Enter your answer in millions (i.e., 10,000,000 should be entered as 10)).
Required information [The following information applies to the questions displayed below] In 2019, Alliant Corporation acquired Centerpoint Inc. for $403 million, of which $63 million was allocated to goodwill. At the end of 2021, management has provided the following information for a required goodwill impairment test Fair value of Centerpoint Inc. Book value of Centerpoint's net assets (excluding goodwill) Book value of Centerpoint's net assets (including goodwill) 4 $315 million 277 million 340 million Required: 1. Determine the amount of the impairment loss. (Enter your answer in millions (i.e., 10,000,000 should be entered as 10)).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Nn.184.
Subject :- Accout
![Required information
[The following information applies to the questions displayed below.]
In 2019, Alliant Corporation acquired Centerpoint Inc. for $403 million, of which $63 million was allocated to goodwill. At
the end of 2021, management has provided the following information for a required goodwill impairment test
Fair value of Centerpoint Inc.
Book value of Centerpoint's net assets (excluding goodwill)
Book value of Centerpoint's net assets (including goodwill)
Required:
1. Determine the amount of the impairment loss. (Enter your answer in millions (i.e., 10,000,000 should be entered as 10)).
impairment loss
$315 million
277 million
340 million
million](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5a79f5fd-2bdd-484b-9c0d-a83d48b55247%2F7e55463f-9dda-4704-907e-da5e8aa60336%2Fw9106oc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
In 2019, Alliant Corporation acquired Centerpoint Inc. for $403 million, of which $63 million was allocated to goodwill. At
the end of 2021, management has provided the following information for a required goodwill impairment test
Fair value of Centerpoint Inc.
Book value of Centerpoint's net assets (excluding goodwill)
Book value of Centerpoint's net assets (including goodwill)
Required:
1. Determine the amount of the impairment loss. (Enter your answer in millions (i.e., 10,000,000 should be entered as 10)).
impairment loss
$315 million
277 million
340 million
million
![Required information
[The following information applies to the questions displayed below]
In 2019, Alliant Corporation acquired Centerpoint Inc. for $403 million, of which $63 million was allocated to goodwill. At
the end of 2021, management has provided the following information for a required goodwill impairment test
Fair value of Centerpoint Inc.
Book value of Centerpoint's net assets (excluding goodwill)
Book value of Centerpoint's net assets (including goodwill)
$315 million
277 million
340 million
2. Determine the amount of the impairment loss assuming that the fair value of Centerpoint is $378 million. (Enter your answer in
millions (i.e., 10,000,000 should be entered as 10)).
Impairment loss
million](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5a79f5fd-2bdd-484b-9c0d-a83d48b55247%2F7e55463f-9dda-4704-907e-da5e8aa60336%2Ffekko6t_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below]
In 2019, Alliant Corporation acquired Centerpoint Inc. for $403 million, of which $63 million was allocated to goodwill. At
the end of 2021, management has provided the following information for a required goodwill impairment test
Fair value of Centerpoint Inc.
Book value of Centerpoint's net assets (excluding goodwill)
Book value of Centerpoint's net assets (including goodwill)
$315 million
277 million
340 million
2. Determine the amount of the impairment loss assuming that the fair value of Centerpoint is $378 million. (Enter your answer in
millions (i.e., 10,000,000 should be entered as 10)).
Impairment loss
million
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