CourseLover

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Teaching Since: May 2017
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    Devry University
    Sep-2004 - Aug-2010

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  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Accounting Posted 07 Dec 2017 My Price 10.00

impaired value of the donut-maker

Acme Company owns a donut-maker that has a book value of $66,000 and a remaining life of 8 years.  Many of Acme's customers have switched to eating biscuits and so the donut-maker is not generating the profits it was when first bought. No one really wants a used donut-maker so it has a fair value of $31,000. If Acme chooses to keep the donut-maker, officials believe that it can be used to generate net cash inflows of $9,000 per year for its remaining life. The present value of those cash flows at a reasonable interest rate is $34,000. What loss should Acme recognize on the impaired value of the donut-maker?

a) zero

b) $ 32K

c) $ 35K

d) $57 K

 

Should it be 0?

Answers

CourseLover
(12)
Status NEW Posted 07 Dec 2017 06:12 AM My Price 10.00

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