1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
zhannawk [14.2K]
3 years ago
5

Martinez Corporation owns a patent that has a carrying amount of $310,000. Martinez expects future net cash flows from this pate

nt to total $250,000. The fair value of the patent is $160,000. Prepare Martinez’s journal entry to record the loss on impairment.
Business
1 answer:
meriva3 years ago
6 0

Answer:

Please find the detailed answer as follows:

Explanation:

Step 1. Given information.

Carrying amount 310.000

Fair Value 160.000

Step 2. Formulas needed to solve the exercise.

Impairment loss = Carrying value - Fair Value

Step 3. Calculation.

Impairment loss = $310.000 - $116.000 = $194.000.

Step 4. Solution.

The carrying amount of $310.000 > fair value of $160.000. To measure the impairment loss, just do CV-FV. hence $310.000 - $116.000 = $194.000.

Loss on impairment $194.000

Patent $194.000

You might be interested in
How are logical operators used?
Bess [88]

Answer:

To identify and correct errors

Explanation:

4 0
2 years ago
When looking to finance higher education, what is the best order to look for funding sources? AGrants/Scholarships - Federal Stu
tatyana61 [14]
The answer should be A, as grants and scholarships are easier to attain
7 0
3 years ago
Lucas spends $83. 42 in additional interest and charges on monthly payments as the result of a prior bankruptcy. If Lucas been a
Vika [28.1K]

Based on the amount saved monthly and the simple interest earned in 3 years, the amount in savings would be<u> $1,055.10.</u>

The amount saved for the year would be:

= 83.42 x 12 months

= $1,001.04

If this amount was saved at simple interest at 1.8% per year, the amount in 3 years would be:

<em>= Amount + ( Amount x rate x number of years)</em>

= 1,001.04 + (1,001.04 x 1.8% x 3)

= $1,055.10

In conclusion, the account would have $1,055.10

<em>Find out more on simple interest at brainly.com/question/2294792. </em>

7 0
2 years ago
Read 2 more answers
What is the type of international trade​
mr Goodwill [35]

profit really

Explanation:

There are three types of international trade: Export Trade, Import Trade and Entrepot Trade. ... It means importing goods from one country and exporting it to another country after adding some value to it. For instance, India imports gold from China makes jewelry from it and then exports it to other countries

5 0
2 years ago
Which type of investment would be an example of an investment at point B? a US savings bond a CD a stock a savings account.
Assoli18 [71]

There are different types of investment. The type of investment would be an example of an investment at point B is a stock.

When you look at the graph, you will see a rise from point A to both B. With this, you can know that the asset class that has highest risk and also has the highest return is a stock.

There are different kinds of investments. They includes stocks, real estate, etc. The intention of the buyer is that they will increase the value of their savings/money over time.

Learn more about Stocks from

brainly.com/question/11514232

7 0
2 years ago
Other questions:
  • Mike gundy is a college football coach making a base salary of $2,400,000 a year ($200,000 per month). employers are required to
    10·1 answer
  • How does an economist calculate GDP for one year using the expenditure approach?
    11·2 answers
  • True or False
    6·2 answers
  • Governments may intervene in a market economy in order to
    11·2 answers
  • A summary of the time tickets for the current month follows:
    15·1 answer
  • Suppose the price of Twinkies is reduced from $1.45 to $1.25 and, as a result, the quantity of Twinkies demanded increases from
    14·1 answer
  • Tesla, a vehicle manufacturer, incurs the following costs.
    6·1 answer
  • Suppose that the reason the jewelry was brand new and at such a bargain price online was because the seller actually stole the j
    9·2 answers
  • Amram Inc. can issue a 20-year bond with a 6% annual coupon at par. This bond is not convertible, not callable, and has no sinki
    10·1 answer
  • Silviocoto say hi plz do it
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!