In 2009, Heisenburg Company acquired production machinery at a cost of €620,000, which now has a accumulated depreciation of €340,000. The value in use of the asset is €290,000 and it’s fair value less cost to sell is €245,000. What amount should Condor recognize as a loss on impairment?
A. €50,000
B. €35,000
C. €10,000
D. -0-
Answer:D
In 2009, Heisenburg Company acquired production machinery at a cost of €620,000, which now has a accumulated depreciation of €340,000. The value in use of the asset is €290,000 and it’s fair value less cost to sell is €245,000. What amount should Condor recognize as a loss on impairment?
A. €50,000 B. €35,000 C. €10,000 D. -0-