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Anarel [89]
3 years ago
7

Oak Inc. has the following information regarding its assets: Book Value Estimated Cash Flows Fair Value Equipment $35,000 $30,00

0 $28,000 Building $68,000 $70,000 $65,000 Patent $30,000 $34,000 $32,000 What amount of loss should be recorded due to asset impairment?a. $10,000.b. $9,000.c..$8,000.d. $7,000.
Business
1 answer:
ExtremeBDS [4]3 years ago
8 0

Answer:

d. $7,000.

Explanation:

The computation of the loss recorded due to asset impairment is shown below:

= Book value - fair value

= $35,000 - $28,000

= $7,000

If we consider the building and the patent we see that the estimated cash flows are  more than the book value, so no loss on impairment should be taken place

Therefore, only $7,000 should be recorded as a loss on impairment of the asset

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A customer with no other mutual fund investments wishes to invest $47,000 in the XYZ Technology Fund. If the Class A shares are
77julia77 [94]

Answer:

The correct answer is (D)

Explanation:

If a customer wants to invest the agent must place the order as instructed. The agent must give all the information to the customers regarding the break-even discount.  The complete information should include the ways through which the customer can earn the break-even discount. The agent should place the order and tell every opening and aspect of invest to the customer.

3 0
3 years ago
4. Operating Cash Flow [L02] In comparing accounting net income and operating cash flow, name two items you typically find in ne
Mademuasel [1]

Answer:

1. Depreciation or Amortization of Assets

2.Profit or Loss on sale of Assets

Explanation:

Operating Cash Flow is very different to Net Income. The earlier represent cash movement and the latter represent profit movement.Cash and profit literally are different.

So in the profit calculation you would find some non-cash items that include estimate of depreciation expense or amortization cost of intangible assets or a profit or loss on sale of a PPE item.

Whereas in Operating Cash Flow determination only cash items are considered and all non-cash items are removed from profit of the year to reach an amount of Operating Cash Flow.

8 0
3 years ago
In July, one of the processing departments at Okamura Corporation had beginning work in process inventory of $26,000 and ending
notsponge [240]

Answer:

Total cost accounted will be $192000

So option (C) will be correct answer

Explanation:

We have given beginning work in process inventory = $26000

Ending work in process inventory = $31000

And cost of units transferred from the department is $161000

We have to find the total cost accounted

Total cost account will be equal to sum of ending process inventory and cost of units transferred out from the department

So total cost accounted = $31000 + $161000 = $192000

So option (C) will be correct answer  

7 0
3 years ago
The manager of the Boston Red Sox notices that his outfield star, Fenway Fred, has gone hitless in his last ten at bats. Which m
Zepler [3.9K]

Answer:

controlling

Explanation:

Based on the information provided within the question it can be said that the manager is performing the management function known as controlling. This function focuses on analyzing a situation and checking for errors in order to be able to take corrective actions. Which in this scenario, by seeing that the outfield star is having a problem getting hits, the manager can now take appropriate measures to try and solve this problem.

7 0
3 years ago
The process that falls between buying for a new need and making a routine repurchase is called
Archy [21]

Answer:

Modified Rebuy

Explanation:

Modified rebuying is the process whereby an individual or an organization makes a purchase that have been previously purchased but this times makes changes to some elements different from the previous purchase like change of suppliers, terms, price and so on. In this case, the buyer reviews the buying situation. Here, the buyer is interested in modifying the specifications of goods previously purchased.

7 0
3 years ago
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