Question
company reports the following information at year-end: Book Value Estimated Cash Flows Fair Value Building $ 500,000 $ 420,000 $ 360,000 Patent $ 35,000 $
company reports the following information at year-end:
| Book Value | Estimated Cash Flows | Fair Value | |
|---|---|---|---|
| Building | $ 500,000 | $ 420,000 | $ 360,000 |
| Patent | $ 35,000 | $ 50,000 | $ 42,000 |
| Copyright | $ 40,000 | $ 38,000 | $ 29,000 |
| 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?
$159,000
$166,000
$144,000
$151,000
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Advanced Financial Accounting
Authors: Richard Lewis, David Pendrill
6th Edition
0273638335, 978-0273638339
