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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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Adriana has borrowed $30,000 from her IRA in order to fund her startup costs. How long does she have to replace the money withou
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Explanation:

7 0
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During a company's first year, the asset account, Office Supplies, was debited for $2,600 for the purchases of supplies. At year
Sauron [17]

Answer:

Supplies Expense 1625 Dr

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Explanation:

First, we need to determine the supplies expense for the period. The supplies expense can be calculated by deducting the year end supplies balance from the supplies account balance.

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Supplies Expense 1625 Dr

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4 0
3 years ago
The shareholders of Flannery Company have voted in favor of a buyout offer from Stultz Corporation. Information about each firm
Nonamiya [84]

Answer:

The answer is "$4.311".

Explanation:

Calculating the EPS after the merger:

\text{Stultz Corp Post Merger Earnings} = 220,000 + 1,000,000 \\\\

                                                      = \$1,220,000

\to \text{Number of Shares Post Merger:} \\\\=\frac{99,000}{3} + 250,000\\\\ = 283,000\\\\\text{EPS Post Merger} =\frac{\text{Stultz Corp Post Merger Earnings}}{\text{Number of Shares Post Merger}} \\\\

                            = \frac{1,220,000}{283,000} \\\\= \$4.311

7 0
2 years ago
Which of the following is the correct statement about fixed costs? The fixed cost per unit will decrease when volume increases.
Montano1993 [528]

Answer:

The correct statement is: "The fixed cost per unit will decrease when volume increases."

Explanation:

Total fixed costs remain the same within a relevant range, but the <em>fixed cost per unit</em> decreases as production increases, because the same fixed costs are spread over more units produced.

6 0
3 years ago
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