An asset group is being evaluated for an impairment loss. The following financial information is available for the asset group: Carrying Value=100,000,000 Sum of the undiscounted cash flows= 95,000,000 Fair value= 80,000,000 Carrying Value $100,000,000

An asset group is being evaluated for an impairment loss. The following financial information is available for the asset group: Carrying Value=100,000,000 Sum of the undiscounted cash flows= 95,000,000 Fair value= 80,000,000 Carrying Value $100,000,000

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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Question

An asset group is being evaluated for an impairment loss. The following financial information is available
for the asset group:
Carrying
Value=100,000,000
Sum of the undiscounted cash flows= 95,000,000
Fair value= 80,000,000
Carrying Value= $100,000,000
What is the value of the impairment loss?

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