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Chicago Ltd provides the following information in relation to its equipment assets: ...

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Accounting

Chicago Ltd provides the following information in relation to its equipment assets:

  • Carrying amount $45,000
  • Fair value $43,000
  • Costs of disposal $800
  • Value in use $41,000

Determine the impairment loss assuming the cost model is used for the equipment assets

  • do not use a minus sign; simply enter the amount of the loss (e.g. 15000)
  • if the asset is not impaired enter 0 as your answer

Note: Do not enter $ symbols or commas; calculate to the nearest whole dollar

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