- This topic has 1 reply, 2 voices, and was last updated 7 years ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
- Posts
Hi
Please could you clarify the Journal Entry for the Impairment of an Asset as below:
Historical Cost 1st Jan 20X5: 100
Accumulated Depreciation: 20 (10 x 2 years)
Recoverable amount 1st Jan 20X7: 75No previous revaluations or impairments have occurred.
Some google searches are saying:
DR Impairment Expense 5
DR Accumulated Depreciation 20
CR Non Current Asset 25Some are saying
DR Impairment Expense 5
CR Accumulated Impairment 5Thanking you in Advance!
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.