Question
b. The accountant of X. Ltd conducted an impairment test on a machinery. The carryin g amount of machinery was SAR 19 5,000, its fair
b. The accountant of X. Ltd conducted an impairment test on a machinery. The carrying amount of machinery was SAR 195,000, its fair value less costs to sell is SAR 170,000, and its value-in-use is SAR 165,000. Is there impairment or no impairment on machinery? If impairment exists what would be the journal entry.
b. The accountant of X. Ltd conducted an impairment test on a machinery. The carrying amount of machinery was SAR 195,000, its fair value less costs to sell is SAR 170,000, and its value-in-use is SAR 165,000. Is there impairment or no impairment on machinery? If impairment exists what would be the journal entry.
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
26th edition
128574361X, 978-1305446052, 1305446054, 978-1285743615
