Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2025

After first recording any impairment losses on plant and equipment and the patent. Required: 1. Compute the book value of the plant and equipment and patent at the end of 2024. 2. When should the plant and equipment and the patent be tested for impairment? 3. When should goodwill be tested for impairment? 4. Determine the amount of any impairment loss to be recorded, if any, for the three assets. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the book value of the plant and equipment and patent at the end of 2024. Note: Enter your answers in millions rounded to 1 decimal place. For example, $5,500,000 should be entered as $5.5. Plant and equipment Book Value million Patent million

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why was 3/12 used for the double declining method for equipment when the asset was acquired on Oct 2, 2021 and their financial year ended on Sept 30, 2022?

Please help solve

How do you prepare the depreciation for the year 2026?

Need help with question B & C Thanks

What is the journal entry Declan's Designs recorded to recognize 2022 deprecation expense?   Question 5 options:   Dr. Accumulated Depreciation $3,000     Cr. Depreciation Expense $3,000   Dr. Depreciation Expense $2,000     Cr. Accumulated Depreciation $2,000   Dr. Depreciation Expense $3,000     Cr. Accumulated Depreciation $3,000   Dr. Depreciation Expense $1,000     Cr. Accumulated Depreciation $1,000

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Subject :- Accountimg