- E Goodwill $190,000 Impairment Presented below is information related to equipment owned by Porto Company at December 31, 2017 Cost $5,900,000 Accumulated depreciation to date 1,700,000 Expected future net cash flows 4,100,000 Fair value 3,800,000 Assume that Porto will continue to use this asset in the future. As of December 31, 2017, the equipment has a remaining useful life of 5 years. A. Is the asset impaired. Explain B. Parepare the journal entry (if any) to record the impairment of the asset at December 31, 2017 $ 400,000 Impairment Loss Asset $ 400.000 Prepare the jounria entry to record depreciation expense for 2018 (2) 760000 Depreciation Expense Accumulated Depre 760000 Intangibles -6 Depn, Intangibles, Current Lia Bonds, Fun-Money TDR Equity + Ready MacBook Pro