Pallmall Company Has a Truck That Was Purchased in Prior

question 168

Multiple Choice

Pallmall Company has a truck that was purchased in prior years for $60,000.At the end of 2014,there is $30,000 of accumulated depreciation.The value of the truck has been impaired,and its remaining value is now estimated at $18,000.When Pallmall adjusts for the loss of value,how much will the loss on impairment be?

• A) $6,000
• B) $12,000
• C) $18,000
• D) $42,000

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