Answered: Fair value less cost to sell: P650,000…

Fair value less cost to sell: P650,000 Value in use:P750,000 Carrying amount:P1,010,000 Compute the impairment loss Group of answer choices P160,000 P100,000 P260,000 P360,000

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

Fair value less cost to sell: P650,000

Value in use:P750,000

Carrying amount:P1,010,000

Compute the impairment loss

Group of answer choices

P160,000

P100,000

P260,000

P360,000

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