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What is the amount of impairment loss under us gaapshow all

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Reference no: EM13575110

Fixed asset records of Palmettos Ltd. And of Dec. 31, 2013:

Carrying value €105,000
Selling price €90,000
Cost of disposal €8,000
Expected future cash flows €80,000
Present value of expected future cash flows €68,000

  1. Using IAS 36, what is the amount of impairment loss?
  2. What is the amount of impairment loss under US GAAP?
  3. Show all work so I can see how you calculated your answer.

Reference no: EM13575110

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