A Homepage - X A UG-ACCT-40 X A Assignment X MBC Assignment X M Inbox (1) - m X | Introducing ( X ChatGPT x C Analyzing In x | + X G go mybusinesscourse.com/course/28846/content/chapter/9/module/quiz/524573/attempt/9816424 M YouTube Maps M Gmail A University of Arizona.. A THINK TANK, The U.. Mathway | Algebra.. Desmos | Let's learn... Solve - Step-by-Ste... Online Software Cer... All Bookmarks BusinessCourse Return to course Course Content / Week 3 / Assignment Week 3 Assignment Week 3 B Print Question 4 Partially correct Mark 2.50 out of 5.00 Flag question Computing and Assessing Plant Asset Impairment Zeibart Company purchased equipment for $360,000 on July 1, 2019, with an estimated useful life of 10 years and expected salvage value of $40,000. Straight-line depreciation is used. On July 1, 2023, economic factors cause the fair value of the equipment to decline to $144,000. On this date, Zeibart examines the equipment for impairment and estimates $200,000 in future cash inflows related to use of this equipment. a. Compute the impairment loss, if any. $ 16,000 Enter as a positive number. Enter $0 if the equipment would not be considered impaired. b. Determine the amount of depreciation Zeibart would record for the 12 months from July 1, 2023 through June 30, 2024. $ 26,667 Hint: Assume no change in salvage value. Round amount to the nearest whole dollar amount c. Using the financial statement effects template, report the impairment loss, if any, and depreciation for the 12 months ending June 30, 2024. Balance Sheet Income Statement Cash Noncash Contra Contributed Earned Net Asset Assets Assets Liabilities Capital Capital Revenues Expenses Income Impairment 32,000) x OV O X OV 32,000 x (32,000) x Depreciation OV 26,667 x OV X OV 26,667 X (26,667) x Check Type here to search Eli X 110OF Sunny 3:30 PM 7/20/2024