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
vazorg [7]
3 years ago
8

Flannery Corporation owns machinery with a book value of $520,000. It is estimated that the machinery will generate future cash

flows of $465,000. The machinery has a fair value of $415,000. Florence should recognize a loss on impairment of...(a)$0.(b)$50,000.(c)$55,000.(d)$105,000.
Business
1 answer:
Aleonysh [2.5K]3 years ago
5 0

Answer:

(d)$105,000.

Explanation:

Since the book value is more than the generated future cash flows so book value cannot be recovered. In this case, the generated future cash flows are ignored  

In this scenario, we compare the values between book value and the fair value of machinery, the difference would be the loss on impairment of the asset

In mathematically,  

= Book value of machinery - fair value of machinery

= $520,000 - $415,000

= $105,000

You might be interested in
Merchandise inventory is found on the balance sheet as a a. current asset. b. long-term asset. c. long-term liability. d. curren
scoray [572]

Answer:

a. current asset

Explanation:

The merchandise inventory are the goods the business sales as their main operation. They are expected to be ready to sale therefore, ready to be converted to cash within the period, therefore will be current assets.

Unless the company do an specific mention and a certain amount of goods that will expected to be sold in a period of time greater than a year, all merchandise inventory will be current. These specific units will be considered non-current as their are expecteed to be converted to cash i na period greater than 1 year.

7 0
3 years ago
Do the following activities contribute to US GDP in 2020? Explain why or why not? In which year do these activities contribute t
ale4655 [162]

Answer:

Explained below.

Explanation:

In option (a) no it does not contribute to the US GDP in any year. The transaction appears in expenditure as an increase in consumption and a decrease in net exports that offset. According to option (b) yes it contributes to US GDP in 2013. The transaction appears as an increase in investment (increase in inventory). In 2014, the transaction appears as an increase in net exports offset by a decrease in investment. According to option (c), the transaction appears in expenditure as an increase in consumption in 2014 offset by a decrease in net exports. Option (d) represents the transaction appears as an increase in investment (increase in inventory). In 2014, the transaction appears as an increase in consumption offset by a decrease in investment. According to option (e) yes, it contributes $1000 to US GDP in 2014. The $6000 purchase price exceeds the price paid by the used car dealer. The difference represents value added by the dealership - this is a service that should be counted as part of GDP.

8 0
3 years ago
You purchase one IBM July 120 put contract for a premium of $3. You hold the option until the expiration date when IBM stock sel
ZanzabumX [31]

Answer:

Loss on putting for long time = $300 (Loss )

Explanation:

Given:

Strike price = $120

Stock price = $123

Premium amount = $3 per share

Realize on investment = ?

Computation of realizing on investment:

Given that strike price is lower than the stock price, So premium paid considers as a loss.

Loss on putting for long time = $3 × 100

Loss on putting for long time = $300 (Loss )

7 0
3 years ago
Dr. Beswick was writing questions for a test, but found herself listening to reggae music coming from an adjoining office, and t
Svetradugi [14.3K]

Dr. Beswick was writing questions for a test, but found herself listening to reggae music coming from an adjoining office, and thinking about her upcoming trip to the Caribbean. She is experiencing  <u>attentional deficit</u>.

<u>Explanation</u>:

Attention deficit disorder (ADD) is a kind of neurological disorder that causes difficulty in concentration, lacking attention and facing many problems in completing tasks and social interaction.

Brain injury, genes and exposure to environment toxins are some of the causes of the attention deficit disorder.

In the above scenario, Dr. Beswick was attending a test. She was distracted by the reggae music that was coming from the adjoining office. After listening to the music she started thinking about her upcoming trip to Caribbean. Dr. Beswick was affected by attentional deficit disorder.

7 0
3 years ago
Describe how the biodiversity crisis extends throughout the hierarchy of biological organization.
daser333 [38]

Answer:

Explained below:

Explanation:

It is really true that biodiversity crisis is continuously increasing as many biological groups reported that some varieties of species started to speedily die and specimen report shows that there have been five periods of mass abolition in history with much large scales of species destruction, and the rate of species extinction now is comparable to those times of mass destruction. Definitely, three human actions have a notable impact; the decline of habitat, the entrance of exotic species and advance accumulation.

4 0
3 years ago
Other questions:
  • A landowner and his neighbor purchased adjoining undeveloped lots. After both built homes on their respective lots, the landowne
    10·1 answer
  • Weather speech is going to be delivered before one or 100 people this speaker should
    8·1 answer
  • "If a company has the optimal amount of debt, then the:
    10·1 answer
  • A great business idea is
    8·2 answers
  • Credit granted by retailers to consumers who purchase for personal or family use is referred to as answer
    11·1 answer
  • M&amp;C Merchants is offering $2.5 million of new securities to the general public. Which SEC regulation governs this offering?
    8·1 answer
  • nted below is information related to Viel Company at December 31, 2020, the end of its first year of operations. Sales revenue $
    14·1 answer
  • A firm has beginning retained earnings of $6,880 and ending retained earnings of $7,430. What is the amount of dividends paid if
    15·1 answer
  • Following are selected accounts for Target Corporation. (a) Indicate whether each account appears on the balance sheet (B) or in
    6·1 answer
  • At the beginning of October, Bowser Co.’s inventory consists of 58 units with a cost per unit of $42. The following transactio
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!