Impairment of an asset At 31 December 2017, T Company has specialized equipment...
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Accounting
Impairment of an asset
At 31 December 2017, T Company has specialized equipment with the following characteristics:
Carrying amount: $50,000
Selling price $40,000
Cost of disposal $1,000
Expected future cash flows $55,000
PV of expected future cash flows $46,000
Explain whether the asset is impaired under:
- IAS 36
- U.S. GAAP
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