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Beverly Hills Inc. has identified indicators of possible impairment on a depreciable asset and an intangible asset.
Information on each of these is provided below:
Depreciable asset -
Building $560,000
Accumulated depreciation (300,000)
Carrying value $260,000
Undiscounted future cash flows from use of asset $270,000
Value in use 220,000
Fair value 250,000
Costs of disposal (12,000)
Indefinite Life Intangible Asset -
Carrying value $120,000
Fair value 80,000
Direct costs to dispose of the trademark (20,000)
Value in use 100,000
Required -
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