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At 12/31/19, George Co. recognized an impairment loss of $100,000 on its equipment, which resulted in a new carrying amount of $200,000. The equipment was
At 12/31/19, George Co. recognized an impairment loss of $100,000 on its equipment, which resulted in a new carrying amount of $200,000. The equipment was originally purchased on 1/1/18 and was being depreciated over 10 years. George intends to dispose of the equipment and not use it in operations in 2020. George should record 2020 depreciation expense on the equipment of:
Question 11 options:
$10,000. | |
$5,000. | |
$0. | |
$20,000. |
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