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Repeat requirement 1 assuming that the fair value of


In 2009, Alliant Corporation acquired Centerpoint Inc. for $300 million, of which $50 million was allocated to goodwill. Alliant tests for goodwill impairment at the end of each year. At the end of 2011, management has provided the following information:

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Required:

1. Determine the amount of the impairment loss.

2. Repeat requirement 1 assuming that the fair value of Centerpoint is $270 million. 

 

 

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Accounting Basics: Repeat requirement 1 assuming that the fair value of
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