Question
On December December 31, 2018 2018, Busch Busch Enterprises must measure its impairment loss for plant and equipment. Busch Busch has determined that the broadcast
On December
December 31, 2018
2018, Busch
Busch Enterprises must measure its impairment loss for plant and equipment. Busch
Busch has determined that the broadcast license is not impaired. The projected future undiscounted cashflows, projected future discounted cashflows, and fair values of the plant and equipment are listedbelow:
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Plant and Equipment
Carrying value
$
(2,110,000)
Less:
Fair value
1,263,000
Impairment Loss
$
(847,000)
Next, prepare the journal entry necessary to record the impairment. (Record debitsfirst, then credits. Exclude explanations from any journalentries.)
Account
December 31, 2018
Accumulated DepreciationPlant and Equipment
2,110,000
Impairment Loss on Plant and Equipment
847,000
Plant and Equipment
2,957,000
Determine the revised annual depreciation expense.
The annual depreciation expense is $
Am sorry. But I am only need to know how can I know about annual depreciation?
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