Maple Inchas the Following Information Regarding Its Assets: What Amount of of Loss

question 84

Multiple Choice

Maple Inc.has the following information regarding its assets: What amount of loss should be recorded due to asset impairments?

• A)$10,000
• B)$9,000
• C)$8,000
• D)$7,000Only the equipment is impaired since its estimated future cash flows are less than book value.The impairment loss is calculated as the difference between the book value and the fair value (35,000 - $28,000)= $7,000.

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