AAA corp. had the following PP&E values on Dec. 31, 2018.

Cost $120

Accumulated Depreciation $ 20

Undiscounted Future Cash Flow $ 95

Fair Value $ 80

Costs to Sell 0

Value-in-use (PV of Future Cash Flow) $ 90

Questions:

[1] Under U.S. GAAP, what is the dollar amount of PP&E carrying value before impairment?

[2] Under U.S. GAAP, prepare the journal entry for PP&E impairment if necessary.

[3] Under U.S. GAAP, what is the dollar amount of PP&E carrying value after impairment?

[4] Under IFRS, is the dollar amount of PP&E carrying value before impairment?

[5] Under IFRS, what is the recoverable amount of PP&E?

[6] Under IFRS, prepare the journal entry for PP&E impairment if necessary.

[5] Under IFRS, what is the dollar amount of PP&E carrying value after impairment?