Alou Corporation reported the following information at year-end: Вook Value Estimated Fair Value Cash Flows Building $ 522,000 $ 396,000 $ 375,000 Patent 51,000 $ 56,000 $ 50,000 Copyright $ 56,000 $ 54,000 $ 52,000 Machine $ 116,000 $ 136,000 $ 98,000 Based on the above information, what is the total amount of impairment loss that Alou should record at year-end? $159,000. $151,000. $155,000. %24

Alou Corporation reported the following information at year-end: Вook Value Estimated Fair Value Cash Flows Building $ 522,000 $ 396,000 $ 375,000 Patent 51,000 $ 56,000 $ 50,000 Copyright $ 56,000 $ 54,000 $ 52,000 Machine $ 116,000 $ 136,000 $ 98,000 Based on the above information, what is the total amount of impairment loss that Alou should record at year-end? $159,000. $151,000. $155,000. %24

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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