11.A.130,000B.220,000C.500,000D.350,000 James Company had an equipement with carrying amount of P 4,500,000 at year-end:Expected discounted net cash flows4,000,000Fair value of similar asset4,150,000Fair value of the asset when sold stand - alone4,280,000What is the impairment loss for the current year?

Impairment: Impairment is the sudden loss in the value of an asset other than depreciation for…

Answered: What is the impairment loss for the…

Business

Accounting

What is the impairment loss for the current year?

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

11.

A.130,000

B.220,000

C.500,000

D.350,000

James Company had an equipement with carrying amount of P 4,500,000 at year-
end:
Expected discounted net cash flows
4,000,000
Fair value of similar asset
4,150,000
Fair value of the asset when sold stand - alone
4,280,000
What is the impairment loss for the current year?

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