Question
3. The following information was taken from the fixed asset records of Bosco Ltd. as of December 31, 20X1: Carrying value 100,000 Selling price 85,000
3. The following information was taken from the fixed asset records of Bosco Ltd. as of December 31, 20X1:
| Carrying value | 100,000 |
| Selling price | 85,000 |
| Costs of disposal | 3,000 |
| Expected future cash flows | 75,000 |
| PV of expected future cash flows | 63,000 |
- Under U.S. GAAP, if the carrying value of a fixed asset was $50,000, the undiscounted expected future cash flows was $55,000, the discounted expected future cash flows was $51,000, and the selling price was $53,000, what is the amount of impairment loss?
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Computerized Accounting Using QuickBooks Pro 2020
Authors: Alvin A. Arens, D. Dewey Ward, Carol J. Borsum
6th Edition
0912503793, 9780912503790
