Question
A company reports the following information at year-end: Book Value Estimated Cash Flows Fair Value Building $ 500,000 $ 380,000 $ 360,000 Patent $ 35,000
A company reports the following information at year-end:
| Book Value | Estimated Cash Flows | Fair Value | |||||||
| Building | $ | 500,000 | $ | 380,000 | $ | 360,000 | |||
| Patent | $ | 35,000 | $ | 40,000 | $ | 38,000 | |||
| Copyright | $ | 40,000 | $ | 38,000 | $ | 39,000 | |||
| Machine | $ | 100,000 | $ | 120,000 | $ | 85,000 | |||
Based on the above information, what is the total amount of impairment loss that the company should record at year-end?
Multiple Choice
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$141,000.
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$126,000.
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$123,000.
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$122,000.
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The Controllers Toolkit
Authors: Christine H. Doxey
1st Edition
1119700647, 9781119700647
