Luke Top Menswear, Ltd reported net plant and eqpment of $1618,000 These assets cost $2.525,000 with accinated depreciation taken to date of 1007 000 Based on recently med gave endence Lus has magnet andet assets might be impared Luke Top estimates total expodded here cash flows bom the ine of the sea only $1 310,000 and apprases the larvae of the asset at $105,000 Am the company's joomal entry necessary to record the impairment Conduct the imperment test for plant and equipment at the end of the year to determine whither Lae Top Menswears asseh are impaired Step 1: Plant and Equipment this game the Impairment indicated Now complete step 2 of the impairment test for plant and equipment Select whether shep 2 of the Ness equited on the Irit ne the ost is noted wave at rensning orts in that ents, then leave only the ampament loss input cell bank that colum Step 2 Plant and Equipment Step 2 reque Less Impairment Loss Ned if there is an impairment loss prepare the jounal entry necessary to record the impamentod debes it, he costs Exclude patation to ang p leave the samnings bnk found your tower to the bearest whole doar Account Date of impairment Choose from any list or enter any number in the input feids and then continue to the next question Type here to search D E # 0 Luke lop estimates total expected future cash Bows from the use of the assets as only $1,310,000 and appranes the fair value of the assets at $1,015.000 Are the company's assets pe $2.525,000 with accumulated depreciation taken to date of $807.000 Based on recently assessed negative evidence, La journal entry necessary to record the impairment Conduct the impairment test for plant and equipment at the end of the year to determine whether Luke Top Menswear's assets are impaired Step 1: Plant and Equipment Impairment Indicated Step 2 required Now, complete step 2 of the impairment test for plant and equipment. Select whether step 2 of the test is required on the first line of the test is not required, leave all remaining cells in that column blank. However exists, then leave only the impairment loss input coll blank in that column.) Step 2: Plant and Equipment Less Impairment Loss Next, if there is an impairment loss, prepare the journal entry necessary to record the impairment (Record debits first, then credts Exclude explanations from any journal entries it no erey is legaved select "No entry leave the remaining cells blank Round your answer to the nearest whole dollar) Account Date of Impairment Choose from any list or enter any number in the input fields and then continue to the next question Type here to search. 0 9 or sc Teported net plant and equipment of $1,618,000. These assets cost $2,525,000 with accumulated m assets might be impaired Luke Top estimates total expected future cash flows from the use of the assets as only $1,310,000 journal entry necessary to record the impairment Impairment Indicated Now, complete step 2 of the impairment test for plant and equipment. Select whether step 2 of the test is required on the fir exists, then leave only the impairment loss input cell blank in that column.) Step 2: Step 2 required Plant and Equipment Less: Impairment Loss Next, if there is an impairment loss, prepare the journal entry necessary to record the impairment (Record debits first, the leave the remaining cells blank. Round your answer to the nearest whole dollar) Account Date of Impairment Choose from any list or enter any number in the input fields and then continue to the next question. Luke Top Menswear, Ltd. reported net plant and equipment of $1,618,000. These assets cost $2,525,000 with accumulated depreciation taken to da assets might be impaired Luke Top estimates total expected future cash flows from the use of the assets as only $1,310,000 and appraises the fair w journal entry necessary to record the impairment. Conduct the impairment test for plant and equipment at the end of the year to determine whether Luke Top Menswear's assets are impaired Step 1: Plant and Equipment Impairment Indicated Now, complete step 2 of the impairment test for plant and equipment Select whether step 2 of the test is required on the first line (If the test is not requi exists, then leave only the impairment loss input cell blank in that column.) Step 2: Plant and Equipment Step 2 required Less Impairment Loss Next, it there is an impairment loss, prepare the journal entry necessary to record the impairment (Record debits first, then credits Exclude explanations fr leave the remaining cells blank Round your answer to the nearest whole dollar) Account Date of Impairment Choose from any list or enter any number in the input fields and then continue to the next question Type here to search This test: 100 pts possibi cost $2,525,000 with accumulated depreciation taken to date of $907,000. Based on recently assessed negative evidence, Luke Top's management concluded that its plant ise of the assets as only $1,310,000 and appraises the fair value of the assets at $1,015,000 Are the company's assets impaired? If there is an impairment loss, prepare the whether Luke Top Menswear's assets are impaired step 2 of the test is required on the first line (If the test is not required, leave all remaining cells in that column blank. However, if the test is required, but no impairment loss the impairment (Record debits first, then credits Exclude explanations from any journal entries. If no entry is required, select "No entry required" on the test account line and airment ue to the next question. t 0 0 12179 Luke Top Menswear, Ltd. reported net plant and equipment of $1,618,000. These assets cost $2,525,000 with accumulated depreciation taken to assets might be impaired. Luke Top estimates total expected future cash flows from the use of the assets as only $1,310,000 and appraises the journal entry necessary to record the impairment. Conduct the impairment test for plant and equipment at the end of the year to determine whether Luke Top Menswear's assets are impaired Plant and Equipment Step 1: Impairment Indicated Now, complete step 2 of the impairment test for plant and equipment. Select whether step 2 of the test is required on the first line. (If the test is not re exists, then leave only the impairment loss input cell blank in that column.) Step 2: Plant and Equipment Step 2 required Less Impairment Loss Next, if there is an impairment loss, prepare the journal entry necessary to record the impairment (Record debits first, then credits Exclude explanation leave the remaining cells blank. Round your answer to the nearest whole dollar.) Account Date of Impairment Choose from any list or enter any number in the input fields and then continue to the next question. Type here to search Luke Top Menswear, Ltd. reported net plant and equipment of $1,618,000. These assets cost $2,525,000 with accumulated depreciation assets might be impaired. Luke Top estimates total expected future cash flows from the use of the assets as only $1,310,000 and appra journal entry necessary to record the impairment. Impairment Indicated Now, complete step 2 of the impairment test for plant and equipment Select whether step 2 of the test is required on the first line. (If the exists, then leave only the impairment loss input cell blank in that column.) Step 2: Step 2 required Plant and Equipment Less Impairment Loss Next, if there is an impairment loss, prepare the journal entry necessary to record the impairment (Record debits first, then credits. Ex- leave the remaining cells blank. Round your answer to the nearest whole dollar.) Account Date of Impairment Choose from any list or enter any number in the input fields and then continue to the next question. Luke Top Menswear, Ltd reported net plant and equipment of $1,618,000 These assets cost $2,525,000 with accumulated depreciation taken to date of $907 000 Based on recently assass assets might be impaired Luke Top estimates total expected future cash flows from the use of the assets as only $1,310,000 and appraises the fair value of the assets at $1,015,000 Are the journal entry necessary to record the impairment Conduct the impairment test for plant and equipment at the end of the year to determine whether Luke Top Menswear's assets are impaired Step 1: Plant and Equipment Impairment Indicated Now, complete step 2 of the impairment test for plant and equipment. Select whether step 2 of the test is required on the first line of the test is not required, leave at remaining cells in that col exists, then leave only the impairment loss input cell blank in that column) Step 2: Stop 2 required Plant and Equipment Less Impairment Loss Next, if there is an impairment loss, prepare the joumal entry necessary to record the impairment (Record debits first, then credits Exclude explanations from any journal entres. If no entry is i leave the remaining cells blank Round your answer to the nearest whole dollar) Account Date of Impairment st $2,525,000 with accumulated depreciation taken to date of $907,000. Based on recently assessed negative evidence, Luke Top's management concluded that its plant of the assets as only $1,310,000 and appraises the fair value of the assets at $1,015,000. Are the company's assets impaired? If there is an impairment loss, prepare the mother Luke Top Menswear's assets are impaired. 2 of the lest is required on the first line. (If the test is not required, leave all remaining cells in that column blank. However, if the test is required, but no impairment loss mpairment (Record debits first, then credits. Exclude explanations from any journal entries. If no entry is required, select "No entry required" on the first account line and 23 of 25 (9 compl Luke Top Menswear, Ltd. reported net plant and equipment of $1,618,000 These assets cost $2,525,000 with accumulated depreciation ta assets might be impaired. Luke Top estimates total expected future cash flows from the use of the assets as only $1,310,000 and appraise journal entry necessary to record the impairment Conduct the impairment test for plant and equipment at the end of the year to determine whether Luke Top Menswear's assets are impair Plant and Equipment Step 1: Impairment Indicated Now, complete step 2 of the impairment test for plant and equipment. Select whether step 2 of the test is required on the first line. (If the f exists, then leave only the impairment loss input cell blank in that column) Step 2: Plant and Equipment Step 2 required Less Impairment Loss Next, if there is an impairment loss, prepare the journal entry necessary to record the impairment (Record debits first, then credits. Excludt leave the remaining cells blank. Round your answer to the nearest whole dollar.) Account Date of Impairment ke Top Menswear, Ltd. reported net plant and equipment of $1,618,000. These assets cost $2,525,000 with accumulated depreciat sets might be impaired. Luke Top estimates total expected future cash flows from the use of the assets as only $1,310,000 and app urnal entry necessary to record the impairment. onduct the impairment test for plant and equipment at the end of the year to determine whether Luke Top Menswear's assets are imw Plant and Equipment tep 1: pairment Indicated Ow, complete step 2 of the impairment test for plant and equipment. Select whether step 2 of the test is required on the first line. (If t xists, then leave only the impairment loss input cell blank in that column.) tep 2: Plant and Equipment tep 2 required ess mpairment Loss ext, if there is an impairment loss, prepare the journal entry necessary to record the impairment. (Record debits first, then credits Ex eave the remaining cells blank. Round your answer to the nearest whole dollar.). Account Date of Impairment ist or enter any number in the input fields and then continue to the next question. O 5,000 with accumulated depreciation taken to date of $907,000 Based on recently assessed negative evidence, Luke Top's management concluded that its plant ssets as only $1,310,000 and appraises the fair value of the assets at $1,015,000. Are the company's assets impaired? If there is an impairment loss, prepare the ke Top Menswear's assets are impaired test is required on the first line. (If the test is not required, leave all remaining cells in that column blank. However, if the test is required, but no impairment loss (Record debits first, then credits. Exclude explanations from any journal entries. If no entry is required, select "No entry required" on the first account line and uestion. O 441 PM 12/21/2020 Luke Top Menswear, Ltd. reported net plant and equipment of $1,618,000. These assets cost $2,525,000 with accumulated depreciation taic assets might be impaired. Luke Top estimates total expected future cash flows from the use of the assets as only $1,310,000 and appraises journal entry necessary to record the impairment. Conduct the impairment test for plant and equipment at the end of the year to determine whether Luke Top Menswear's assets are impaired Plant and Equipment Step 1: Impairment Indicated Now, complete step 2 of the impairment test for plant and equipment. Select whether step 2 of the test is required on the first line. (If the to exists, then leave only the impairment loss input cell blank in that column.) Step 2: Step 2 required Plant and Equipment Less: Impairment Loss Next, if there is an impairment loss, prepare the journal entry necessary to record the impairment (Record debits first, then credits. Exclude leave the remaining cells blank. Round your answer to the nearest whole dollar.) Date of Impairment This Question 12 ph 23 of 2523 compe ini5 jest. HAHJAH JANU La ML pored plant and upment of $1010,000 These sets cost 52.525.000 wecaccursed deprobinon lakon to date of $907 000. Based on recenty assessed negative evidence, Luke Top's management concluded that its pian pset Like pess expected ore cash Sows on the use of the asses as only 31.310 000 and approes the fair vaue of the wets at $1,015.000 Are the company's assets parod & there is an ampang loos, prepare the Conduct the intent and went at the end of the year to determine whether Luke Top Menswear's els empord Shp 1 Plant and Equipment 1310000 Step 2. Accou Choose an the most pt and maugment Son whether Step 2 of the qued on the list in the set is not rods af romaning ceh in that con back Howeyer if the stund, but no impamentos The setkin bat cou P Equipment Date of Impairmen er any number in the rout Seds and then continue to the nest question Peach Fr D # O 9 442 PM 12/21/200 This Question 12 pl Top Ct porte pan and get of $1018000 These assets cost $2,125,000 with ached deprecaton bokan to die of $907 000. Based on recently assessed negative evidence, Luke Top's management concluded that is plant the menied Like Top estrates al expected future cash flows from the use of the aetas only $110,000 and acpcases the fair value of the assets at $1,015.000 Ane the company's assets impared? If there is an impairment loss, propare the alty ensay the impament Conduct the pemant plant dope at the end of the year to determine whether Luke Top Metwas assets are point Stap 3 Plant and Equipment 1310000 3618000 Step 3 2 of the most for gent and spent Select whether ep 2 of the test is aired on the frit e f the store at ang chat column bank However, the best is read but no mpament loss par los bak n hat conn Leti Chouse on my and then continue to the next question WI E R 0 D C 144 Type 4 447PM L BANG & OLUF Toine wd 5309 A + 6 8 9 Th backspace lock TYU Luke Top Munswear, Ltd reported net plant and equipment of $1,618,000 These assets cost $2,525,000 with accumulated depreciation takon to date of S007 000 Based on recently assessed negative evidence. Luke Tas mana assets might be impaired Luke Top estimates total expected future cash flows from the use of the assets as only $1.310.000 and appraises the ter value of the ansats at 51.015.000 Are the company's assets nganed it there journal entry necessary to record the impairment Fair value at year-end Impairment indicated 1618000 Yes Now, complete step 2 of the impairment test for plant and equipment Select whether stop 2 of the test is required on the fest line of the test is not moured, leave all remaining cets in that can tank Hae if the test is a exists, then leave only the impairment loss input cell blank in that column) Step 2: Step 2 required Plant and Equipment Less Impairment Loss Next, if there is an impairment loss, prepare the journal entry necessary to record the impairment (Record debilis first, then credes Exclude explanations from any puhal onts leave the remaining cells blank Round your answer to the nearest whole dollar) Account Date of impairment Choose from any list or enter any number in the input fields and then continue to the next question. Type here to search) II prt sc Luke Top Menswear, Ltd reported net plant and equipment of $1,618,000. These assets cost $2,525,000 with accumulated depreciation taken to date of $902,000 Based on recently assessed negative evidor assets might be impaired Luke Top estimates total expected future cash flows from the use of the assets as only $1,310,000 and appraises the fair value of the assets at $1,015,000 Are the company's ansits journal entry necessary to record the impairment Fair value at year-end Impairment Indicated 1618000 Yes Now, complete step 2 of the impairment test for plant and equipment Select whether step 2 of the test is required on the first ine (if the test is not required, leave all romaning cells in that column blank Howe exists, then leave only the impairment loss input cell blank in that column) Step 2: Step 2 required Plant and Equipment Less Impairment Loss Next, if there is an impairment loss, prepare the journal entry necessary to record the impairment (Record debits first, then credits Exclude explanations from any journal entries If no entry is requiret, select "Nor Inave the remaining cells blank Round your answer to the nearest whole dollar) Account Date of Impairment Choose from any list or enter any number in the input fields and then continue to the next question. Type here to search. Like Top Menswear LM reported net plant and equgment of $1,018,000. These assets cost $2525,000 with accumulated deprecation taken to date of $90,000 Based on recently assessed negative vidence Luke Top's management concluded that its pi might be impaired Lake Top estudes tal expected future cash Bows hom the use of the assets as only $1,310,000 and apprason the fer value of the assobal $1,915,000 Are the company's postherp umai eniny necessary to record the painment Conduct parent test for plant and equpmunt at the end of the year to determine whether Luko Top Memwears asses we mod Step 1: Dnted he year-and impament indicated Now, compl Plant and Equipment 1310000 1610000 of the appement is for plant and equipment Select whether ship 2 of the test is quiet on the first Ine of the best is not rueda ataning ces at couts bark How The best p eest then wave inty the inparment lost input cold blank that column) Step 2 Stepd Plant and Equipment Not mpament loss prep the younal undry necessary to record the monet decontoos n the sad explanations from ty journal entry reped select Noyob Instant ow and hemaning cetak found your answer to the newest whole dor Accoun Date of impairmen Choose from any tor enter any number in the input fields and then continue to the next quesdon 23 of 25 (23 complete) Luke Top Menswear, Ltd reported net plant and equipment of $1,618,000. These assets cost $2,525,000 with accumulated depreciation takers to date of $907,000 Based on recently assessed negative assets might be impaired Luke Top estimates total expected future cash flows from the use of the assets as only $1,310,000 and appraises the fair value of the assets at $1,055.000 Are the company's a journal entry necessary to record the impairment Conduct the impairment test for plant and equipment at the end of the year to determine whether Luke Top Menswear's assets are impaired Step 1:1 Discounted future cash flows Fair value at year-end Impairment Indicated Plant and Equipment 1310000 1618000 Yes Now, complete step 2 of the impairment test for plant and equipment Select whether step 2 of the test is required on the first line. (If the test is not required, leave sl remaining cells in that column blank exists, then leave only the impairment loss input cell blank in that column.) Step 2: Step 2 required Plant and Equipment Less Impairment Loss Next, if there is an impairment loss, prepare the journal entry necessary to record the impairment (Record debts first, then credits Exclude explanations from any punal entries to entry in oured wi leave the remaining cells blank Round your answer to the nearest whole dollar) Account Date of Impairment Choose from any list or enter any number in the input fields and then continue to the next question Type here to search hyp