Homework answers / question archive / Presented below is information related to long term assets owned by comet company at December 31,2019     original cost depreciation or amortization to date expected future net cash flows (undiscounted) fair market value  equipment  500,000 47,500 450,000 443,500 the impairment should be 9000 40,000 56000

Presented below is information related to long term assets owned by comet company at December 31,2019     original cost depreciation or amortization to date expected future net cash flows (undiscounted) fair market value  equipment  500,000 47,500 450,000 443,500 the impairment should be 9000 40,000 56000

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Presented below is information related to long term assets owned by comet company at December 31,2019

original cost

depreciation or amortization to date

expected future net cash flows (undiscounted)

fair market value 

equipment 

500,000

47,500

450,000

443,500

the impairment should be

1. 9000
2. 40,000
3. 56000