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Semenov [28]
3 years ago
13

Under U.S. GAAP, if the carrying value of a fixed asset was $50,000, the undiscounted expected future cash flows was $55,000, th

e discounted expected future cash flows was $51,000, and the selling price was $53,000, what is the amount of impairment loss?
Business
2 answers:
ira [324]3 years ago
7 0

Answer:

$0

Explanation:

According to US GAAP the reduction in the value of the asset due to a decrease in the fair value. It means when fair value of the asset is reduced than the book value of the asset.

Amortized Cost / Book value = $50,000

Market Value = $53,000

Discounted Value = $51,000

There is no Impairment loss on this asset as the fair market value is more than the book value of the asset.

FrozenT [24]3 years ago
3 0

Answer:

Nil, asset is not impaired.

Explanation:

An asset is said to be impaired if and only if the carrying amount of the asset is more than the recoverable amount.

The recoverable amount is the higher of the value in use (which is the discounted expected future cash flows) and the fair value less cost to sell.

Recoverable amount = $53,000 (being the higher of the selling price and the discounted expected future cash flow)

Since this is higher than the carrying value of the asset, it is not impaired.

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According to a summary of the payroll of Mountain Streaming Co., $110,000 was subject to the 6.0% social security tax and the 1.
MAXImum [283]

a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.8%.

Answer:

$9800

Explanation:

This question requires us to calculate the employer's payroll taxes

His social security tax = $110000*6.0%

= 110000x0.06

=$6600

His Medicare tax = $110000*1.5%

= 110000*0.015

= $1650

His state and federal unemployment tax = 25000 dollars

State = 25000x5.4%

= $1350

Federal = 25000x0.8%

= $200

Total employers payroll tax

$(6600+1650+1350+200)

= $9800

7 0
2 years ago
when a manufacturer sells its products directly to consumers, it engages in which two supply-chain activities?
fiasKO [112]

Based on components of Supply Chain Management, when a manufacturer sells its products directly to consumers, it engages in <u>Source</u> and <u>Delivers</u> supply-chain activities.

This is because Supply Chain activities is divided into five components.

The Source component is how firms or companies look for buyers, vendors, or consumers to buy their products directly.

Also, the Deliver component is by which the company delivers the products purchased by vendors, buyers, or consumers directly to them without intermediaries.

Other components of Supply Chain activities include the following:

  • Plan;
  • Make;
  • Return

Hence, in this case, it is concluded that the correct answer is <u>Source</u> and <u>Deliver</u>.

Learn more here: brainly.com/question/18793688

8 0
2 years ago
Which of the following activities are credits? The impact on accounts receivable from a $10 million collection from a customer.
bagirrra123 [75]

i don’t know .........

3 0
3 years ago
Munchkin is a popular baby clothing brand. The founder of the company, Isabel, conducts a brainstorming session with her employe
Elena L [17]

Answer:

B) upward communication

Explanation:

Upward Communication -

It refers to the flow of information from the lower level to the higher level in the company, is referred to as upward communication.

The method helps to pull out thought and innovative technique from all the employees working in the company , and is used for the betterment of the company.

It helps to have a healthy conversation and decision making process, which helps the company to grow.

Hence, from the question,

The company Munchkin takes idea from all the employees and tries to implement it into the company, thereby showcasing the method of upward communication.

3 0
3 years ago
Chandler Sporting Goods produces baseball and football equipment and lines of clothing. This year the company had cash and marke
Lapatulllka [165]

Answer:

The company's net working capital is $2123612

Explanation:

Working Capital

Current Assets:

Cash & marketable securities worth  $335,485

Inventory of                                          $1,651,599

Accounts receivables                          $1,488,121

Other current assets                            <u>$121,427</u>

Total Current Asset                                                     $3,596,632

Less:

Current Liabilities:

Accounts payable worth                       $1,159,357

Short-term notes payable worth           $313,663

Total Current Liabilities                                               <u>$1,473,020</u>

Net Working Capital                                                    <u>$2,123,612</u>

7 0
3 years ago
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