Reference no: EM132674961
On January 1, 2019, Pesci Company purchased an equipment at a cost of P3,760,000 with useful life of 4 years. On December 31, 2016 and December 31, 2020, the entity determined that impairment indicators were present.
The entity provided the following information for impairment testing at year end:
Dec 31, 2019 FVLCOD 2,900,000; VIU 3,000,000:
Dec 31, 2020 FVLCOD 1,680,000; VIU 1,780,000.
- No change was made in the remaining useful life.
Problem 1: What is the depreciation for 2019?
Problem 2: What is the impairment loss for 2019?
Problem 3: What is the impairment loss for 2020?
Problem 4: What is the depreciation for 2021?
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