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Business, 18.07.2020 01:01 jazzycintron14

Assume a company’s equipment carries a book value of $48,000 ($49,500 cost less $1,500 accumulated depreciation) and a fair value of $44,250, and that the $3,750 decline in fair value in comparison to the book value meets the impairment test. Prepare the entry to record this $3,750 impairment.

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Assume a company’s equipment carries a book value of $48,000 ($49,500 cost less $1,500 accumulated d...
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