Multiple Choice
A company bought machinery on January 1, 2019, for $200,000. On January 2, 2021, the machinery had a book value of $100,000. It is estimated that the machine will generate future cash flows of $70,000 and its current fair value is $60,000. How much impairment loss should be recorded?
A) $0
B) $30,000
C) $40,000
D) $100,000
Correct Answer:
Verified
Correct Answer:
Verified
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