Homework Answers
| -$30 million | ||
| (Figure in million) | ||
| Acquired 100% of Centerpoint Inc. outstanding stock | $300 | |
| Allocated to Goodwill of the $300 million | $50 | |
| Impairment Test | ||
| Fair Value of Centerpoint Inc. | $220 | |
| Fair Value of Centerpoint Inc. net assets (excluding Goodwill) | $200 | |
| Book Value of Centerpoint Inc. net assets (including Goodwill) | $250 | |
| Step -1 | ||
| Book Value of Centerpoint Inc. net assets exceeds the Fair Value of Centerpoint Inc. | ||
| Impairment loss indicated | ||
| Step -2 | Determination of implied goodwill: | |
| Fair Value of Centerpoint Inc. | $220 | |
| Fair Value of Centerpoint Inc. net assets (excluding Goodwill) | $200 | |
| Implied value of goodwill | $20 | |
| Measurement of impairment loss: | ||
| Book Value of goodwill | $50 | |
| Less: Implied value of goodwill | $20 | |
| Impairment loss | $30 | |
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