a company reported the following information at year-end: book value estimated cash flows fair value building $ 604,000 $ 386,000 $ 410,000 patent $ 41,000 $ 46,000 $ 42,000 copyright $ 46,000 $ 44,000 $ 43,000 machine $ 106,000 $ 126,000 $ 86,000 based on the above information, what is the total amount of impairment loss that the company should report at year-end?

In order to operate and administer a business, which may be commercial or industrial, a group of people form a company. For tax / financial obligation purposes, a corporation can be constituted in a variety of ways.

Briefing :

Given that:

Book value Estimated cash flow Fair value

Building $ 604,000 $ 386,000 $ 410,000

Patent $ 41,000 $ 46,000 $ 42,000

Copyright $ 46,000 $ 44,000 $ 43,000

Machine 106,000 $ $ 126,000 $ 86,000

When the cash flow of C-Stop Corporation is less than its book value, an impairment loss occurs.

Given that the expected cash flows for the building and the copyright are below their book values, the overall impairment loss is as follows:

= ($ 604,000 - $ 410,000 ) - ( $ 46,000 - $ 43,000 )

= $ 194,000 - $3,000

= $191,000

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