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home / study / business / accounting / accounting questions and answers / exercise 8.1 cheer and beer limited has a machine with a carrying amount …
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Exercise 8.1 Cheer and Beer Limited has a machine with a carrying amount of $750,000. While Cheer and
Beer proposes to scale down its operation, it is required to review the impairment of its assets, including
the machine. A director of Cheer and Beer operating a similar operation offers to buy the machine at $1
million. Simultaneously, Cheer and Beer estimates that the net cash inflow generated from the operation of
the machine will be $300,000 in the next year, and then the machine can be returned to the machine
suppliers at $500,000. Cheer and Beer thus concludes that no impairment loss should be required on the
machine. Discuss and comment on the impairment of Cheer and Beer's machine.
Anonymous answered this
The asset is now worth of $750000 and its market value is $1000000
The asset can generate $350000 in the next year but it's carrying amount will not increase due to its
economic inows of benets. So the carrying amount is less than the market value so the asset should be
impaired.
The impairment loss amount of machinery will be $250000
Comment
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Source: https://www.studocu.com/id/document/institut-teknologi-bandung/sanitasi-pedesaan/exercise-81-cheer-and-beer-limited-has-a-machine-chegg/17570079