What is impairment loss for collier company under ifrs

Assignment Help Financial Accounting

Reference no: EM13139850

The information provided below is related to equipment owned by Collier Company at December 31, 2007.

Cost $5,000,000
Accumulated Depreciation 2,000,000
Expected future net cash flows (undiscounted) 3,000,000
Expected future net cash flows (discounted) 2,700,000
Fair value 2,500,000
Remaining useful life of asset 3 Years

What is the impairment loss for Collier Company under IFRS?

Reference no: EM13139850

Questions Cloud

Explain multinomial logit is a suitable model for problem : The Department asks you to estimate a model that could ?t this situation. a) Do you think that a multinomial logit is a suitable model for this problem? Explain why.

Who will end up paying - the companies or the buyers : suppose the state decides to increase the sales tax on all goods and services to generate the needed funds. Who will end up paying - the companies or the buyers? Explain

Explain sr flip flop from d flip flops : SR flip flop from D Flip flops, Show how to build a rising edge triggered SR flip-flop using a rising edge triggered D flip-flop and combinational logic.

How data prove significant difference in mean scrap rates : Scrap rates per thousand (parts whose defects cannot be reworked) are compared for 5 randomly selected days at three plants. Does the data prove a significant difference in mean scrap rates?

What is impairment loss for collier company under ifrs : The information provided below is related to equipment owned by Collier Company at December 31, 2007. What is impairment loss for Collier Company under IFRS?

Confucius-taoist and shinto concepts : What are the central ideas in Shinto about who or what God is? What role does the Islands of Japan have in Shinto? How did Shinto shape the Japanese concept of war in WW II?

-500-word review of the movie or television show. : -500-word review of the movie or television show. The review must include a thesis statement, introductory paragraph, and at least two supporting paragraphs.

Find probability fewer than five employees steal money : A recent report in BusinessWeek indicated that 20 percent of all employees steal from their company each year. fewer than 5 employees steal?

Compute leo cost recovery deduction : on June 5, 2011, leo purchased and plaved in service a new car that cost $20,000. the business use percentage for the car is always 100%. he elects not to take additional firstyear depreciation. compute leo's cost recovery deduction in 2011 and 20..

User Account

All Pages