On January 1, 2019, Streamer Company purchased equipment with a cost of P11,000,000, useful life of...
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On January 1, 2019, Streamer Company purchased equipment with a cost of P11,000,000, useful life of 10 years and no residual value. The entity used straight line depreciation. At every year-end, the entity determined that impairment indicators are present. There is no change in the useful life or residual value. The following information is available for impairment testing at each year end: December 31, 2019 December 31, 2020 Fair value less cost of disposal Value in use What is the impairment loss for 2019? 8,100,000 8,550,000 8,400,000 8,200,000 On January 1, 2019, Streamer Company purchased equipment with a cost of P11,000,000, useful life of 10 years and no residual value. The entity used straight line depreciation. At every year-end, the entity determined that impairment indicators are present. There is no change in the useful life or residual value. The following information is available for impairment testing at each year end: December 31, 2019 December 31, 2020 Fair value less cost of disposal Value in use What is the impairment loss for 2019? 8,100,000 8,550,000 8,400,000 8,200,000
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Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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