Answer:
textile developer is the answer
Answer: Mercantilism is an economic practice by which governments used their economies to augment state power at the expense of other countries. Governments sought to ensure that exports exceeded imports and to accumulate wealth in the form of bullion (mostly gold and silver).
Explanation:
If he wants to withdraw $25,000 each year for 30 years after his retirement 10 years from now, he should invest either letter B. $105,470.27 or D $108,490.27. While he was withdrawing $25,000.00 his investment still remains untouched for the 30 years and it is still increasing. He may increase his yearly withdrawal.
Answer:
Option B: $30,000 Impairment Loss of Machinery
Explanation:
IAS 36 – Impairment of Assets states that an asset is considered to be impaired if the Carrying Amount of an asset is greater than the Recoverable Amount. Recoverable Amount of an asset is the higher of Fair Value less Cost to Sell and Value-in-Use.
Fair value less cost to sell is defined as the amount receivable from sale of assets less the cost of disposal, whereas Value in Use is defined as the present value of future cash flows from using an asset,
In case of Kohlman Company, recoverable amount of Machinery will be $350,000 i.e. Value in Use (future cash flows) as it is greater than the Fair Value of Machinery. The book value of machinery $380,000 exceeds the recoverable amount of $350,000. Therefore, the asset is considered to impaired and must be written down by $30,000 ($380,000 - $350,000 = $30,000). The impairment loss is charged to profit and loss account.
Journal Entry to record impairment loss:
DR Profit & Loss Account $30,000
CR Equipment $30,000
