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
Fofino [41]
3 years ago
11

Oak Inc. has the following information regarding its assets: Book Value Estimated Undiscounted Cash Flows Fair Value Equipment $

48,000 $ 43,000 $ 40,000 Building $ 81,000 $ 83,000 $ 78,000 Patent $ 43,000 $ 47,000 $ 45,000 What amount of loss should be recorded due to asset impairments
Business
1 answer:
yaroslaw [1]3 years ago
6 0

Answer:

$8,000

Explanation:

Given that,

Equipment:

Book value = $48,000

Estimated Undiscounted Cash Flows = $43,000

Fair value = $40,000

Building:

Book value = $81,000

Estimated Undiscounted Cash Flows = $83,000

Fair value = $78,000

Patent:

Book value = $43,000

Estimated Undiscounted Cash Flows = $47,000

Fair value = $45,000

From the above information, we can conclude that only the equipment is impaired as it is the only asset whose estimated future cash flows are less than its book value.

The impairment loss obtained from the asset is determined as the difference between the fair value and the book value.

Amount of loss should be recorded due to asset impairments:

= Book value - Fair value

= $48,000 - $40,000

= $8,000

You might be interested in
Selection of sales mix LO A1 Excel Memory Company can sell all units of computer memory X and Y that it can produce, but it has
Helga [31]

Answer:

Contribution margin per production hour for product X = $12

Contribution margin per production hour for product X = $15

Explanation:

The computation of contribution margin per production hour is given below:-

                                                                Product X   Product Y

Contribution margin per unit                        $6             $5

Units produced per hour                               2                  3

Contribution margin per production hour $12            $15

Working note =

Contribution margin per production hour  for product X = Contribution margin per unit × Units produced per hour

= $6 × 2

= $12

Contribution margin per production hour  for product Y = Contribution margin per unit × Units produced per hour

= $5 × 3

= $15

4 0
3 years ago
Which of the following statements about S corporations is most accurate? Any corporation willing to pay the necessary fees and f
Vedmedyk [2.9K]

Answer:

The major attraction of S corporations is that they avoid the problem of double taxation

Explanation:

Am S corporation is also called a small enterprise corporation that providers liability protection for its owners.

The business is considered.to.ba an independent entity, so if the corporation is liable to pay a judgement sum the owners will not be asked to use their personal funds to repay.

One key feature.os S corporation is that tax is passed along. The tax to be paid by the business is transfered to the owners.

So taxis only paid once. This avoids double taxation where the business is taxed and owner also taxed.

4 0
3 years ago
Data disposal laws require a. businesses to notify individuals who are affected by any incident that results in unauthorized acc
Darina [25.2K]

Answer:

b. businesses to destroy customer data and maintain reasonable security procedures to guard against theft.

Explanation:

A database management system (DBMS) can be defined as a collection of software applications that typically enables computer users to create, store, modify, retrieve and manage data or informations in a database. Generally, it allows computer users to efficiently retrieve and manage their data with an appropriate level of security.

A data dictionary can be defined as a centralized collection of information on a specific data such as attributes, names, fields and definitions that are being used in a computer database system.

In a data dictionary, data elements are combined into records, which are meaningful combinations of data elements that are included in data flows or retained in data stores.

This ultimately implies that, a data dictionary found in a computer database system typically contains the records about all the data elements (objects) such as data relationships with other elements, ownership, type, size, primary keys etc. This records are stored and communicated to other data when required or needed.

A law can be defined as the system of principles, regulations and rules established by legislature, that is adopted in a community, society or country to regulate the actions of its citizens, members or employees.

Thus, law is a tool used by the judiciary, lawyers, individuals, organizations, and even government to ensure everybody is well behaved, non-criminal and civil in their actions. Therefore, a law creates the foundation for ethical behavior and orderliness in a society.

Data disposal laws require businesses to destroy customer data and maintain reasonable security procedures to guard against theft. Thus, any customer data collected by a business firm should be protected securely and discarded when no longer in use.

4 0
3 years ago
What is sampling frame?
alex41 [277]

Answer:

"The list of items from which a sample is obtained is known as the sampling frame." -Website of some kind

Explanation:

Brainliest pls?

8 0
3 years ago
Read 2 more answers
Sunland Company borrowed $1,028,960 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition,
Lynna [10]

Answer:

10.66%

Explanation:

The computation of the weighted-average interest rate is shown below:

Particulars                                         Principal                     Interest

10%, 5-year note payable               $2,013,900                $201,390

11%, 4-year note payable                $3,826,400                $420,904

Total amount                                   $5,840,300                $622,294

So, the weighted-average interest rate would be

= $622,294 ÷  $5,840,300

= 10.66%

4 0
4 years ago
Other questions:
  • Kingston Development Corp. purchased a piece of property for $2.79 million. The firm paid a down payment of 15 percent in cash a
    7·1 answer
  • The __________ is an intracapsular ligament which crosses the interior of the joint
    14·1 answer
  • One difference between financial and managerial accounting is that the external users that use financial information must plan a
    15·1 answer
  • Which of the following statements is CORRECT? Group of answer choices Hedge funds are not as highly regulated as most other type
    7·1 answer
  • Due to the backlash against advertising that clutter can cause, advertisers are integrating more tools within theoverall promoti
    12·1 answer
  • The company has 15 employees, who earn a total of $1,960 in salaries each working day. They are paid each Monday for their work
    6·1 answer
  • Gullett Corporation had $46,000 of raw materials on hand on November 1. During the month, the Corporation purchased an additiona
    15·1 answer
  • Pikes Peak is a ski resort in upstate New York. The company sells lift tickets, ski lessons, and ski equipment. It operates seve
    11·1 answer
  • What is Chris Records LifePreneur Online Educational Training Program?
    11·2 answers
  • You have the following information regarding a bond that pays semi-annual coupon payments: Time to maturity is 12 years Coupon R
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!