Reference no: EM133002443
Black Company bought equipment for P10,000,000 on Jan. 1, 2021, with a usable life of 10 years and no residual value. Straight-line depreciation was utilized by the company. The company has determined, on December 31, 2021 and Dec. 31, 2022, that impairment indications are present. The useful life or residual value remain unchanged.
Dec. 31, 2021 Dec. 31, 2022
Fair value less cost to disposal P8, 100,000 P8,300,000
Value in use 8,550,000 8,200,000
Problem 1: For 2021, the impairment loss is?
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What is the impairment loss for black company
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