Determine the amount of the goodwill impairment loss


In 2008, Dooling Corporation acquired Oxford Inc. for $250 million, of which $50 million was attributed to goodwill. Dooling tests for goodwill impairment at the end of each fiscal year. At the end of 2009, Dooling's accountants derive the following information:

Book Value Oxford, including goodwill 234.5 million

Fair Value Oxford Assets, without goodwill 204.9 million

Fair Value Oxford, the reporting unit 260 million

Determine the amount, if any, of the goodwill impairment loss that Dooling must recognize on these assets.

 

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Accounting Basics: Determine the amount of the goodwill impairment loss
Reference No:- TGS0100172

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