TBB Corp. has the following information regarding three of its assets: Estimated Book Value Cash Flows Fair Value Equipment $ 100,000 $ 106,000 $ 90,000 Building $ 200,000 $ 250,000 $ 195,000 Patent $ 50,000 $ 58,000 $ 36,000 What amount of loss should be recorded by TBB due to asset impairment?
TBB Corp. has the following information regarding three of its assets: Estimated Book Value Cash Flows Fair Value Equipment $ 100,000 $ 106,000 $ 90,000 Building $ 200,000 $ 250,000 $ 195,000 Patent $ 50,000 $ 58,000 $ 36,000 What amount of loss should be recorded by TBB due to asset impairment?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 6RE: Oz Corporation has the following assets at year-end: Patents (net), 26,000; Land, 50,000; Buildings,...
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TBB Corp. has the following information regarding three of its assets:
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Estimated |
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Book Value |
Cash Flows |
Fair Value |
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Equipment |
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$ |
100,000 |
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$ |
106,000 |
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$ |
90,000 |
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Building |
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$ |
200,000 |
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$ |
250,000 |
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$ |
195,000 |
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Patent |
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$ |
50,000 |
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$ |
58,000 |
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$ |
36,000 |
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What amount of loss should be recorded by TBB due to asset impairment?
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