Kaplan Co. purchased a machine on 1/1/2010 for $60,500. The machine has a useful life...
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Accounting
Kaplan Co. purchased a machine on 1/1/2010 for $60,500. The machine has a useful life of 10 years and a salvage value of $500. On 1/1/2015, Kaplan Co. took impairment for the machine and wrote it down to $30,000. Which of the following is NOT true?
a)Kaplan recognized 500 loss on impairment
b) recognized 300 loss on impairment
c) The book value of the machine after the impairment on 1/1/2015 should be 30,000
d) The book value of the machine right before the impairment was 30,000
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