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Walking Company thinks that they may have an impairment of one of the most valuable pieces of equipment they own. The co
Posted: Mon May 30, 2022 7:04 am
by answerhappygod
- Walking Company Thinks That They May Have An Impairment Of One Of The Most Valuable Pieces Of Equipment They Own The Co 1 (28.54 KiB) Viewed 17 times
Walking
Company thinks that they may have an impairment of one of the most valuable pieces of equipment they own. The cost of the equipment is $2,000,000 dollars and the accumulated depreciation is $400,000. The future cash flow of the equipment is estimated at $1,400,000. The fair value of the equipment is $1,300,000. Please determine if an impairment has happened and make any necessary journal entries if one has.