Question

The information regarding the fixed assets of broadwing company as of december 31 2019 is provided below expected future cash flows from the fixed assets $80,000 carrying value of fixed assets $105,000 present value of expected future cash flows from the fixed assets $68000 selling price of fixed assets $90,000 what is the amount of impairment loss under us gaap.

Answer 1

Answer:

The information regarding the fixed assets of Broadwing Company as of december 31 2019 is provided below Expected future cash flows from the fixed assets $80,000 Carrying value of fixed assets $105,000 Present value of expected future cash flows from the fixed assets $68000 Selling price of fixed assets $90,000 What is the amount of impairment loss under US GAAP