Answer:
According to IAS 36 Impairment of Assets says that impairment must be launched when it is clear that the carrying value of the asset is higher than fair value less cost to sell or value in use.
In this question, we can see that the carrying value which is $18.64m is higher than $11.6m by $7.04m (18.64-11.6).
Dr. Impairment Loss $7.04m
CR. Accumulated Impairment Loss $7.04
The (Dr.) impairment Loss Should be Reported in the statement of comprehensive income as an Expense and (CR.) Accumulated Impairment Loss would reduce the Carrying Amount of the Respective Asset in the balance sheet.
A. Raymond applied for the position, and he was called for an interview two days later.
(This sentence has more than one subject and a predicate, hence is a compound sentence)
Answer:
Amount added to retained earnings $5,663.50
Explanation:
The computation of the addition to the retained earning is shown below:
Sales $14,570
Less: Cost of goods sold -$3,820
Less: Depreciation -$410
Less: Interest paid -$730
Less: Selling and administration expenses -$960
Profit Before Tax $8,650
Less: Tax at 21% -1,816.50
Profit After tax $6,833.50
Less: Dividend paid -$1,170
Amount added to retained earnings $5,663.50
<span>The answer is. A. Corporation - stockholders. B. Partnership - various investors. C. Sole proprietorship - individual owners. Corporation is a large company in which stockholders own one or more shares of stock. Partnership is a relationship between various investors. Sole proprietorship is a type of business own by individual owner.</span>
Answer:
Option D ($32,000 ordinary income, $1,600 interest income) is correct.
Explanation: