Question
Wildhorse Company owns equipment that cost $1,071,000and has accumulated depreciation of $452,200. The expected future net cash flows from the use of the asset are
Wildhorse Company owns equipment that cost $1,071,000and has accumulated depreciation of $452,200. The expected future net cash flows from the use of the asset are expected to be $595,000. The fair value of the equipment is $476,000.
Prepare the journal entry, if any, to record the impairment loss.
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Using Microsoft Excel and Access 2016 for Accounting
Authors: Glenn Owen
5th edition
1337109048, 1337109045, 1337342149, 9781337342148 , 978-1337109048
