In 2011,Diller Company acquired production machinery at a cost of $860,000,which now has a book value of $380,000.The undiscounted cash flows from use of the machinery is $335,000.and it's fair value is $290,000.
a.Determine if an impairment loss has occurred.Explain.
b.If an impairment loss has occurred,provide the journal entry to record the impairment loss.

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The Answer of In 2011,Diller Company acquired production machinery at a cost of $860,000,which now has a book value of $380,000.The undiscounted cash flows from use of the machinery is $335,000.and it's fair value is $290,000.
a.Determine if an impairment loss has occurred.Explain.
b.If an impairment loss has occurred,provide the journal entry to record the impairment loss.

In 2011,Diller Company Acquired Production Machinery at a Cost of $860,000,which