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Delvig [45]
3 years ago
10

After an impairment loss is recognized, the adjusted carrying amount of the intangible asset shall be its newaccounting basis. W

hich of the following statements about subsequent reversal of a previously recognized impairment loss is correct under U.S. GAAP?a. It is prohibited.b. It is required when the reversal is considered permanent.c. It must be disclosed in the notes to the financial statements.d. It is encouraged, but not required.
Business
1 answer:
Mandarinka [93]3 years ago
3 0

Answer:

A, it is prohibited

Explanation:

Under the U.S GAAP, subsequent reversal of a previously recognised intangible asset impairment loss is prohibited with the exception that the intangible asset is held up for the purpose of sale.

Cheers.

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The right answer for the question that is being asked and shown above is that: "a. the sale or transfer of the franchise to a government entity." One of the most important features of the franchise contract is the provision related to <span>a. the sale or transfer of the franchise to a government entity.</span>
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3 years ago
A fleet of refrigerated delivery trucks is acquired on January 5, 2017, at a cost of $900,000 with an estimated useful life of 1
gavmur [86]

Answer:

depreciation expense 2017 = $180,000

depreciation expense 2018 = $144,000

depreciation expense 2019 = $115,200

Explanation:

purchase cost $900,000

estimated useful life 10 years

depreciation expense using double declining method = 2 x regular straight method depreciation rate x purchase cost

depreciation expense 2017 = 2 x 1/10 x $900,000 = $180,000

depreciation expense 2018 = 2 x 1/10 x $720,000 = $144,000

depreciation expense 2019 = 2 x 1/10 x $576,000 = $115,200

8 0
3 years ago
Marta, the public relations manager of a local library, is meeting with the news media regarding a new reading program for child
Zolol [24]

Marta is performing the <u>spokesperson</u> role.

<u>Explanation:</u>

By communicating projects, successes and / or perspectives, Public Relation managers build and maintain an advantageous public image for their company or customer, and thus serve as a spokesperson. The role of public relations managers is to answer questions from the press and pitch stories to the media, plan publicity kits and coordinate press conferences. A good PR manager is ultra-engaged and maintains the eye on what's going on in the industries of the clients. They also remain up-to-date about current world events and developments that may affect the industries within which they work.

3 0
3 years ago
Exercise 10-6 Direct Materials and Direct Labor Variances [LO10-1, LO10-2] Huron Company produces a commercial cleaning compound
ololo11 [35]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Standard:

Direct materials 7.30 pounds $ 2.25 per pound $16.43

Actual:

16,600 pounds of material was purchased for $2.05 per pound. All of the material purchased was used to produce 2,000 units of Zoom.

To calculate the direct material price and quantity variance, we need to use the following formula:

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (2.25 - 2.05)*16,600

Direct material price variance= $3,320 favorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Standard quantity= 2,000*7.3= 14,600

Direct material quantity variance= (14,600 - 16,600)*2.25

Direct material quantity variance= $4,500 unfavorable

4 0
2 years ago
Help with This question
MissTica

Answer: Arial. 12 and black

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