as of january 1 2013 jjs is evaluating the building for, Ask an Expert

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. As of January 1, 2013, JJS is evaluating the building for possible impairment. The building has a remaining useful life of 12 years JJs Corporation purchased a building on January 1, 2009, for a total of $12,000,000. The building has been depreciated using the straight-line method with a 20-year useful life and no residual valueand is expected to generate cash inflows of $850,000 per year. The estimated fair value of the building on January 1, 2013, is $6,800,000.

Assume that JJS is a non-U.S. company and uses international accounting standards. Compute depreciation expense for 2013.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9984836

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