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WARRIOR [948]
2 years ago
15

In 2020 a U.S. private entity reported $8 million of goodwill in last year's balance sheet. The entity has elected the accountin

g alternative for subsequent measurement of goodwill. How should the entity calculate its reported goodwill for the current year?
Business
1 answer:
9966 [12]2 years ago
7 0

The private entity should calculate its reported goodwill for the current year by evaluating goodwill impairment.

<h3>What is goodwill impairment?</h3>

Goodwill impairment occurs when the carrying value of acquired goodwill on financial statements exceeds its fair value.

Accounting standards allow for the evaluation of goodwill impairment at the end of the financial period.

The evaluation of impairment shows the difference (impairment loss) between the carrying value and the fair value of goodwill, which reduces the book value of goodwill.

Thus, the private entity should calculate its reported goodwill for the current year by evaluating goodwill impairment.

Learn more about goodwill impairment at brainly.com/question/22367051

#SPJ1

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An important social trend is the continued concern for health and well-being in the United States. This is most likely evidenced
yulyashka [42]

An important social trend is the continued concern for health and well-being in the United States is most likely evidenced by the introduction of fitness trackers such as the Fitbit.

<h3>What is social trend?</h3>

It should be noted that social trend simply means

the movement of a particular trend or its growth.

In this case, an important social trend is the continued concern for health and well-being in the United States is most likely evidenced by the introduction of fitness trackers such as the Fitbit

Learn more about social trend on:

brainly.com/question/2926894

#SPJ1

7 0
2 years ago
Match each situation with the term that best describes it. Use each term only once.
Dmitry [639]

Answer:

1. One of your subordinates only seems to respond to threats of punishment. What type of power should you use to motivate him?

h. <u>Persuasive power </u>

2. You manage a difficult subordinate who only cooperates when she feels that you have the formal authority to ask her to do something. What type of power should you use to motivate her?

b. <u>Legitimate power</u>

3. One of your subordinates looks up to you as a role model. What type of power should you use to motivate her?

a. <u>Personal power</u>

Explanation:

In any given situations there are different incidents that would require someone to apply different power in-order to manage the situation. This could be in form of motivation or deterrent method during the application of the power.

For example, in the case of the subordinate looking up to you as a role model, you should apply personal power in-order to motivate the person. the personal power will help you to build personal relationship between the subordinate and you.

7 0
3 years ago
I will mark you as brainliest !!
jonny [76]

Answer:

400,000

Explanation:

7% of what number = 28,000

(0.07)(X) = 28,000

X = 400,000

(which is less than 700,000. But that makes sense because not everyone living in Michael's city is necessarily part of the labor force. Some could be kids in school, others grandparents who have retired, others people who stay at home and don't work.)

4 0
3 years ago
Read 2 more answers
This​ video, carl describes​ paas, a type of cloud computing in which the customer provides the application software and​ data,
stepan [7]

Cloud computing company provides the information

8 0
3 years ago
At December 31, Amy Jo's Appliances had account balances in Accounts Receivable of $309,000 and $600 (credit) in Allowance for U
MissTica

Answer:

Bad debt expense  $ 14.850

Explanation:

Initial Balance    

Accounts Receivable  $ 309.000  

Allowance for Uncollectible Accounts  $ 600  

Should be 5% of the Accounts Receivables    

Allowance for Uncollectible Accounts  $ 15.450

We must calculate the difference between the actual balance and the must be balance.

Adjustment entry

Bad debt expense  $ 14.850  

Allowance for Uncollectible Accounts  $ 14.850

END Balance    

Accounts Receivable  $ 309.000  

Allowance for Uncollectible Accounts  $ 15.450  

5 0
4 years ago
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