145) possible Henne Optical Corporation reported the following information regarding long-term operating assets for its Lens Manufacturing Operations (Click the icon to view the information Recent advances in technology have rendered the company's lens manufacturing operations nearly obsolete Management projects the following future cash flows for its lens manufacturing operations. (Click the icon to view the cash flow projection table.) Read the requirements Requirement a. Compute the impairment loss for the current year, if any. (Il you selected "No" that an impairment loss is not indicated, then leave their cell blank.) Start with step 1 Lens Manufacturing Operation Step 1: Impairment loss indicated Step 2: Impairment loss, If any Requirement b. Prepare the journal entry to record the impairment loss, if needed (Record debits first, then credits Exclude explanations from any journal entries. If no entry is required select "No Entry Required" on the first line of the journal entry table and leave all remaining cells in the table blank) Account Date of Impairment Data table Carrying Value Estimated Fair Value Description Factory building (used in several segments) Less Accumulated depreciation S 10,000,000 (4,500,000) Net book value 5,500,000 $ 8,900,000 Land 7,000,000 $ 14,000,000 Lens manufacturing equipment S Less Accumulated depreciation 2,100,000 (600,000 Net book value $ 1,500,000 $ 1,100,000 Lens polishing equipment S Less Accumulated depreciation 3,000,000 (1.200,000) Net book value $ 1,800,000 $ 1,625,000 General factory equipment (used in several segments) $ Less. Accumulated depreciation Net book value $ 6.500 000 (4,000,000 2,500,000 $ 2.400,000 Delivery trucks (used in several segments) S Less: Accumulated depreciation 1.750 000 (300 000) Print Done A) FA F5 FO -- prescris F7 Home F9 End F10 Pa ^ $ 4 u do % 5 6 LO & 7 * 00 8 9 :) 0 O R T Y U o yu(hyou selected by that an impairment loss is not indicated then leave the impairment loss input cell blank.) Data table 5,500 UVUS 8,900.UUU Net book value $ 7,000,000 $ 14,000,000 Land Lens manufacturing equipment $ 2.100,000 Less: Accumulated depreciation (600.000) $ Net book value 1,500,000 $ 1.100.000 S Lens polishing equipment Less. Accumulated depreciation 3,000,000 (1.200,000) $ Net book value 1,800,000 $ 1,625,000 General factory equipment (used in several segments) S 6 500 000 Less Accumulated depreciation (4.000.000) Net book value $ 2.500 000 $ 2.400,000 Delivery trucks (used in several segments) S 1,750,000 (300 000 Less Accumulated depreciation Net book value $ 1.450.000 $ 1,125.000 Total net fixed assets $ 19,750,000 Printi Done Dll 5 FA To F7 PrtSca. "F8 Home Fo End FIC % & o" that an impairment loss is not indicated, then leave the impairment loss input cell blank.) - X Cash flow projection Future Period Cash Flow Projection Year 1 5 1.450,000 Year 2 850,000 If no entry is required sel- Year 3 400.000 rmel Year 4 400.000 Year 5 250 000 s Total 3,350,000 Print Done 145) possible Henne Optical Corporation reported the following information regarding long-term operating assets for its Lens Manufacturing Operations (Click the icon to view the information Recent advances in technology have rendered the company's lens manufacturing operations nearly obsolete Management projects the following future cash flows for its lens manufacturing operations. (Click the icon to view the cash flow projection table.) Read the requirements Requirement a. Compute the impairment loss for the current year, if any. (Il you selected "No" that an impairment loss is not indicated, then leave their cell blank.) Start with step 1 Lens Manufacturing Operation Step 1: Impairment loss indicated Step 2: Impairment loss, If any Requirement b. Prepare the journal entry to record the impairment loss, if needed (Record debits first, then credits Exclude explanations from any journal entries. If no entry is required select "No Entry Required" on the first line of the journal entry table and leave all remaining cells in the table blank) Account Date of Impairment Data table Carrying Value Estimated Fair Value Description Factory building (used in several segments) Less Accumulated depreciation S 10,000,000 (4,500,000) Net book value 5,500,000 $ 8,900,000 Land 7,000,000 $ 14,000,000 Lens manufacturing equipment S Less Accumulated depreciation 2,100,000 (600,000 Net book value $ 1,500,000 $ 1,100,000 Lens polishing equipment S Less Accumulated depreciation 3,000,000 (1.200,000) Net book value $ 1,800,000 $ 1,625,000 General factory equipment (used in several segments) $ Less. Accumulated depreciation Net book value $ 6.500 000 (4,000,000 2,500,000 $ 2.400,000 Delivery trucks (used in several segments) S Less: Accumulated depreciation 1.750 000 (300 000) Print Done A) FA F5 FO -- prescris F7 Home F9 End F10 Pa ^ $ 4 u do % 5 6 LO & 7 * 00 8 9 :) 0 O R T Y U o yu(hyou selected by that an impairment loss is not indicated then leave the impairment loss input cell blank.) Data table 5,500 UVUS 8,900.UUU Net book value $ 7,000,000 $ 14,000,000 Land Lens manufacturing equipment $ 2.100,000 Less: Accumulated depreciation (600.000) $ Net book value 1,500,000 $ 1.100.000 S Lens polishing equipment Less. Accumulated depreciation 3,000,000 (1.200,000) $ Net book value 1,800,000 $ 1,625,000 General factory equipment (used in several segments) S 6 500 000 Less Accumulated depreciation (4.000.000) Net book value $ 2.500 000 $ 2.400,000 Delivery trucks (used in several segments) S 1,750,000 (300 000 Less Accumulated depreciation Net book value $ 1.450.000 $ 1,125.000 Total net fixed assets $ 19,750,000 Printi Done Dll 5 FA To F7 PrtSca. "F8 Home Fo End FIC % & o" that an impairment loss is not indicated, then leave the impairment loss input cell blank.) - X Cash flow projection Future Period Cash Flow Projection Year 1 5 1.450,000 Year 2 850,000 If no entry is required sel- Year 3 400.000 rmel Year 4 400.000 Year 5 250 000 s Total 3,350,000 Print Done