tion.co Do is A At The or 2014, Roc apter 11 Pre-Built P Help Save& Exit Submit

Question

tion.co Do is A At The or 2014, Roc apter 11 Pre-Built P Help Save& Exit Submit Check my work Collison and Ryder Company (C&R;) has been experiencing declining market conditions for its sportswear divsion. Mar decided to test the assets of the division for possible impairment. The test revealed the following: book value of division's assets, $297 million; fair value of division's assets, $22.6 million; sum of estimated future cash flows generated from the division's assets, $30.3 million. What amount of impairment loss should C&R; recognize? (Enter your answer in whole dollars.) Print

Explanation / Answer

7.1

Recoverable Amount lower of fari Market Value or sum of Future estimated cash flows

impairment loss = Book Value - Recoverable amount 29.7 - 22.6

7.1

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