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What is the fair value of the asset sold stand-alone

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Reference no: EM132674953

Lee Jones Company had an equipment with a carrying amount of P900,000 at year-end. The following information was available at year-end:

Expected undiscounted net cash flows 840,000;

Expected discounted net cash flows 800,000;

Fair value, using similar asset 830,000; Fair value, assuming the asset is sold stand-alone ?

Problem 1: The company credited Accumulated depreciation for 44,000 when it recorded impairment at year-end. What is the fair value of the asset sold stand-alone?

Reference no: EM132674953

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