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STALIN [3.7K]
3 years ago
13

In 2020, Mowchan Inc. acquired Sanchez Co. and recorded goodwill of $290 million as a result. The net assets (including goodwill

) from Mowchan’s acquisition of Sanchez Co. had a 2021 year-end book value of $1,160 million. Mowchan assessed the fair value of Sanchez at this date to be $1,020 million, while the fair value of all of Sanchez’s identifiable tangible and intangible assets (excluding goodwill) was $900 million. The amount of the impairment loss that Mowchan would record for goodwill at the end of 2021 is ____
Business
1 answer:
Stels [109]3 years ago
3 0

Answer:

$170 million

Explanation:

First we must calculate the implied fair value of goodwill:

fair value of goodwill = Sanchez's fair value - Sanchez's asset valuation = $1,020 million - $900 million = $120 million

impairment loss = recorded goodwill - fair value of goodwill = $290 million - $120 million = $170 million

An impairment loss is a loss generated by the decline of an asset's fair value.

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Altima, Inc. finished Job A40 on the last working day of the year. It utilized $ 360 of direct materials and $ 2 comma 030 of di
Anastasy [175]

Answer:

C. debit to Finished Goods Inventory $ 3 comma 202 and a credit to Work minus Process Inventory $ 3 comma 202

Explanation:

The journal entry is shown below:

Finished goods inventory A/c Dr $3,202

             To Work in process inventory A/c $3,202

(Being the job is completed)

The computation is shown below:

= Direct material cost + Direct labor cost + manufacturing overhead cost

= $360 + $2,030  + $2,030 × 40%

= $360 + $2,030 + $812

= $3,202

3 0
3 years ago
NeNe is an accountant and a U.S. citizen who has accepted a permanent position in Madrid, Spain, for a Spanish financial service
s2008m [1.1K]

Question options:

a) NeNe can exclude all of the housing payment because she worked more than 330 days overseas

b) 16,128

c) 23,872

d) 14,112

e) None of her salary can be excluded from gross income

Answer:

a) NeNe can exclude all of the housing payment because she worked more than 330 days overseas

Explanation:

US citizens working and living abroad would still have to remit taxes to the US, albeit with exclusions.

Under US tax law, IRS states that US citizens may deduct/exclude the value of meal and lodging expenses granted to them by the employer. Under the foreign housing exclusion, Nene qualifies for the benefits of housing exclusion because she has a foreign earned income and has lived at least 330 days within a period of 12 consecutive months in the foreign country.

4 0
3 years ago
Jeff receives a paycheck of $2,100 twice per month. His monthly expenses include: $1,500 on rent, $400 on a car payment, $120 fo
In-s [12.5K]

Answer:

$1,280

Explanation:

Given that,

Rent expense = $1,500

Car payment = $400

Cellphone expense = $120

Utilities = $450

Groceries expenses = $250

Entertainment expenses = $200

Jeff receives a paycheck of $2,100 twice per month, the amount received in a month is calculated as follows:

= $2,100 × 2

= $4,200

The amount left after deducting all of the expenses:

= Amount received - Rent expense - Car payment - Cellphone expense - Utilities - Groceries expenses - Entertainment expenses

= $4,200 - $1,500 - $400 - $120 - $450 - $250 - $200

= $1,280

Therefore, he have left over $1,280 for the month.

7 0
4 years ago
Because of global competition and advances in new information technology, tasks and responsibilities for managers have
Triss [41]

Answer:

"Become more intense " is the right answer.

Explanation:

  • Global or Economic competition seems to be on the market for several years with environmental regulations being reduced and that many markets liberalized.
  • A commonly held view of intensified global competition is its impact on individuals' tendency to find employment or maintain their present employment.

So that the above is the correct approach.

4 0
3 years ago
Steady-state means:
Setler [38]

Answer:

the price of bonds will tend to

fall!

Explanation:

the price of bonds will tend to

fall!investment the price of bonds will tend to

fall!the price of bonds will tend to

fall!investment = depreciationinvestment = depreciationinvestment = depreciationthe price of bonds will tend to

fall!investment = depreciationinvestment = depreciationinvestment = depreciationinvestment = depreciationinvestment = depreciation depreciation

7 0
3 years ago
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