On December 31, 2022, Marizor Company believed that the assets of a cash generating unit are impaired based on ananalysis of economic indicators. The assets and liabilities of the cash generating unit at carrying amount on December31, 2022 are:Cash4,000,0006,000,0001,000,0007,000,00022,000,0004,000,000Accounts receivableAllowance for doubtful accountsInventoryProperty, plant and equipmentAccumulated depreciationGoodwill3,000,000Accounts payableLoans payableThe entity determined that the value in use of the cash generating unit is P28,000,000. The accounts receivable areconsidered collectible, except those considered doubtful. The carrying amount of the inventory is lower than fair valueless cost of disposal. What is the impairment loss to be allocated to property, plant and equipment?2,000,0001,000,000A. 3,600,000В. 6,000,000С. 3,000,000D. 1,800,000

IAS 36 deals with impairment of assets. When the market value or the current cost of the asset is…

Answered: less cost of disposal. What is the…

less cost of disposal. What is the impairment loss to be allocated to property, plant and equipment? A. 3,600,000 B. 6,000,000 C. 3,000,000 D. 1,800,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 56PSA: Preparing a Statement of Cash Flows Monon Cable Television Company reported the following financial...

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