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What is the amount of the impairment loss under us gaap

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Reference no: EM133081031

Question - In 2011, Yondoor Inc. Company acquired production machinery for $1,200,000 which now has a book value of $740,000. The undiscounted cash flows from use of the machinery is $365,000 and its fair value is $305,000. Yondoor has determined that an impairment loss has occurred. What is the amount of the impairment loss under US GAAP? What is the balance in the machinery account after recording the impairment loss?

Reference no: EM133081031

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