As of December 3 1 , 2 0 2 5 , Winger Company has Equipment ( an asset ) that had an original cost of $ 6 7 4 , 0 0 0 and depreciation taken to date of $ 8 6 , 0 0 0 Management has decided that a triggering event has occurred, and the asset should be further evaluated for impairment Management projected its future net cash flows from this equipment to be $ 5 3 2 , 0 0 0 and its fair value to be $ 3 1 2 , 8 0 0 The equipment has a remaining useful life of four years and no salvale Required Assume that Winger Company will continue to use this asset in the future a Prepare th journal entry ( if any ) to record the impairment of the asset at December 3 1 , 2 0 2 5 If No Entry is needed, please indicate No Entry table Reference , Account Title,Debit ,Credit , 1 2 3 1 2 5 , Loss on impairment of ec , 2 7 5 , 2 0 0 , No Entry , , Equipment,No Entry, 2 7 5 , 2 0 0 b Prepare the journal entry ( if any ) to record depreciation expense for 2 0 2 6 Use the straight line method If No Entry is needed, please indicate No Entry table Reference , Account Title,Debit ,Credit , 1 2 3 1 2 6 , Depreciation Expense, 7 8 , 2 0 0 , No Entry , , Accumulated Depreciati,No Entry, 7 8 , 2 0 0 c The fair value of the equipment at December 3 1 , 2 0 2 6 , is $ 3 5 6 , 1 0 0 Prepare the journal entry ( if any ) necessary to record this increase in fair value If No Entry is needed, please indicate No Entry table Reference , Account Title,Debit ,Credit , 1 2 3 1 2 6 , No Entry,No Entry,No Entry , , No Entry,No Entry,No Entry Required Assume that Winger Company intends to dispose of the equipment in the coming year It is expected that the cost of disposal will be $ 4 8 , 0 0 0 d Prepare the journal entry ( if any ) to record the impairment of the asset at December 3 1 , 2 0 2 5 If No Entry is needed, please indicate No Entry table Reference , Account Title,Debit ,Credit , 1 2 3 1 2 6 , No Entry,No Entry,No Entry , , No Entry,No Entry,No Entry c The fair value of the equipment at December 3 1 , 2 0 2 6 , is $ 3 5 6 , 1 0 0 Prepare the journal entry ( if any ) necessary to record this increase in fair value If No Entry is needed, please indicate No Entry table Reference , Account Title,Debit ,Credit , 1 2 3 1 2 6 , No Entry,No Entry,No Entry , , No Entry,No Entry,No Entry Required Assume that Winger Company intends to dispose of the equipment in the coming year It is expected that the cost of disposal will be $ 4 8 , 0 0 0 d Prepare the journal entry ( if any ) to record the impairment of the asset at December 3 1 , 2 0 2 5 If No Entry is needed, please indicate No Entry e Prepare the journal entry ( if any ) to record depreciation expense for 2 0 2 6 Use the straight line method If No Entry is needed, please indicate No Entry table Reference , Account Title,Debit ,Credit , 1 2 3 1 2 6 , Depreciation Expense, 7 8 , 2 0 0 , No Entry , , Accumulated Depreciati,No Entry, 7 8 , 2 0 0 f The asset was not sold by December 3 1 , 2 0 2 6 The fair value of the equipment on that date is $ 3 5 6 , 1 0 0 Prepare the journal entry ( if any ) necessary to record this increase in fair value It is expected that the cost of disposal is still $ 4 8 , 0 0 0 If No Entry is needed, please indicate No Entry table Reference , Account Title,Debit ,Credit , 1 2 3 1 2 6 , type your answer ,type your answer ,type your answer , , type your answer ,type your answer ,type your answer

Question

As of December 3 1 , 2 0 2 5 , Winger Company has Equipment ( an asset ) that had an original cost of $ 6 7 4 , 0 0 0 and depreciation taken to date of $ 8 6 , 0 0 0   Management has decided that a triggering event has occurred, and the asset should be further evaluated for impairment  Management projected its future net cash flows from this equipment to be $ 5 3 2 , 0 0 0 and its fair value to be $ 3 1 2 , 8 0 0   The equipment has a remaining useful life of four years and no salvale Required  Assume that Winger Company will continue to use this asset in the future  a   Prepare th journal entry ( if any ) to record the impairment of the asset at December 3 1 , 2 0 2 5   If   No Entry  is needed, please indicate   No Entry     table     Reference  , Account Title,Debit ,Credit    ,   1 2 3 1   2 5 , Loss on impairment of ec , 2 7 5 , 2 0 0 , No Entry   ,   , Equipment,No Entry, 2 7 5 , 2 0 0     b   Prepare the journal entry ( if any ) to record depreciation expense for 2 0 2 6   Use the straight   line method  If   No Entry  is needed, please indicate   No Entry     table     Reference  , Account Title,Debit ,Credit    ,   1 2 3 1   2 6 , Depreciation Expense, 7 8 , 2 0 0 , No Entry   ,   , Accumulated Depreciati,No Entry, 7 8 , 2 0 0     c   The fair value of the equipment at December 3 1 , 2 0 2 6 , is $ 3 5 6 , 1 0 0   Prepare the journal entry ( if any ) necessary to record this increase in fair value  If   No Entry  is needed, please indicate   No Entry     table     Reference  , Account Title,Debit ,Credit    ,   1 2 3 1   2 6 , No Entry,No Entry,No Entry   ,   , No Entry,No Entry,No Entry     Required  Assume that Winger Company intends to dispose of the equipment in the coming year  It is expected that the cost of disposal will be $ 4 8 , 0 0 0   d   Prepare the journal entry ( if any ) to record the impairment of the asset at December 3 1 , 2 0 2 5   If   No Entry  is needed, please indicate   No Entry     table     Reference  , Account Title,Debit ,Credit    ,   1 2 3 1   2 6 , No Entry,No Entry,No Entry   ,   , No Entry,No Entry,No Entry     c   The fair value of the equipment at December 3 1 , 2 0 2 6 , is $ 3 5 6 , 1 0 0   Prepare the journal entry ( if any ) necessary to record this increase in fair value  If   No Entry  is needed, please indicate   No Entry     table     Reference  , Account Title,Debit ,Credit    ,   1 2 3 1   2 6 , No Entry,No Entry,No Entry   ,   , No Entry,No Entry,No Entry     Required  Assume that Winger Company intends to dispose of the equipment in the coming year  It is expected that the cost of disposal will be $ 4 8 , 0 0 0   d   Prepare the journal entry ( if any ) to record the impairment of the asset at December 3 1 , 2 0 2 5   If   No Entry  is needed, please indicate   No Entry   e   Prepare the journal entry ( if any ) to record depreciation expense for 2 0 2 6   Use the straight   line method  If   No Entry  is needed, please indicate   No Entry     table     Reference  , Account Title,Debit ,Credit    ,   1 2 3 1   2 6 , Depreciation Expense, 7 8 , 2 0 0 , No Entry   ,   , Accumulated Depreciati,No Entry, 7 8 , 2 0 0     f   The asset was not sold by December 3 1 , 2 0 2 6   The fair value of the equipment on that date is $ 3 5 6 , 1 0 0   Prepare the journal entry ( if any ) necessary to record this increase in fair value  It is expected that the cost of disposal is still $ 4 8 , 0 0 0   If   No Entry  is needed, please indicate   No Entry     table     Reference  , Account Title,Debit ,Credit    ,   1 2 3 1   2 6 , type your answer   ,type your answer   ,type your answer      ,   , type your answer   ,type your answer   ,type your answer

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As of December 3 1 , 2 0 2 5 , Winger Company has Equipment ( an asset ) that had an original cost of

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