Question
Impairment of intangible assets lucille Corp.owns patent with carrying amount of 900,000 Expected future net cash flows 630,000 Fair Value 330,000 Prepare lucilles journal entry,
Impairment of intangible assets
| lucille Corp.owns patent with carrying amount of |
| 900,000 |
| |
| Expected future net cash flows |
| 630,000 |
| |
| Fair Value |
|
| 330,000 |
|
|
|
|
|
|
|
| Prepare lucilles journal entry, if any, to record the loss on impairment at 12-31-2021 | ||||
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Financial Accounting For Decision Makers
Authors: Peter Atrill
8th Edition
1292099046, 978-1292099040
