Answer:
According to IAS 36 Impairment of assets says that the asset must be recorded at the lower of:
- Net realizable Value $23,000
The lower value is $23,000, which must write off value of inventory with an amount of $3000. So the journal entry would be:
Dr Impairment Losses $3000
Cr Advances paid for inventory $3000
This entry is the fair presentation of the actual value of the advances paid.
Answer:
The company should recognize a gain on disposal of $29500
Explanation:
The straight line depreciation method charges a constant depreciation expense per year through out the estimated useful life of the asset.
The straight line depreciation expense per year is,
(Cost - salvage value) / estimated useful life
Depreciation expense = (910000 - 0) / 8 = $113750
The number of years till 31 December 2013 = 6 years
The accumulated depreciation till December 31, 2013 = 113750 * 6 = $682500
The carrying value of the asset at 31 December 2013 = 910000 - 682500 = $227500
The gain/loss on sale = 257000 - 227500 = $29500 gain
Career information can often be obtained at the library by looking through books. Option D. This is further explained below.
<h3>What is
Career information?</h3>
Generally, Career information is simply defined as Information that may be used to better organize and direct one's work life is called "career information."
In conclusion, Job-seekers might learn a lot by perusing bookshelves at their local library.
Read more about Career information
brainly.com/question/451424
#SPJ1
Answer:
- <u>B. decreasing foreign expenses</u>
Explanation:
<em>Economic exposure</em> is the risk derived from the variation in the foreign revenues and expenses of the firm due to <em>exchange rate movements.</em>
If the<em> expenses are more sensitive to exchange rate movements than revenue</em>, means that a depreciation of the Mexican Peso would cause the expenses to increase more than revenue,
That means that the expenses would increase more than the revenue affecting the financial situation of the firm.
Hence, <em>to reduce the economic exposur</em>e, Old Main Co. should reduce its foreing expenses.