Answer:
No impairment loss would be reported
Explanation:
The computation is shown below;
Impairment loss = carrying value - recoverable amount
Where,
The recoverable amount would be the higher amount of fair market value and value in use
So the recoverable amount would be $2,545,000
Now the impairment loss is
= $2,500,000 - $2,545,000
= -$45,000
Since the impairment loss comes in negative so no impairment would be recorded
Answer:
Entries are given below
Explanation:
Cash should be recorded as an asset on the issuance of bonds and bonds should be credited as it is a liability for the company. Interest expense should be debited on a semiannual basis
June 30, 2021 ( issuance of bonds)
DEBIT CREDIT
Cash 1,042,973
Bonds payable 970,000
Premium on bonds payable 72,973
December 31, 2021 ( interest expense)
DEBIT CREDIT
Interest Expense 62,578
(1,042,973 x 12% x 6/12)
Premium on bonds payable 472
Cash 63,050
(970,000 x 13% x 6/12)
June 30, 2022 (interest expense)
DEBIT CREDIT
Interest Expense 62,550
(1,042,973-472) x 12% x 6/12)
Premium on bonds payable 500
Cash 63,050
(970,000 x 13% x 6/12)
Answer:
Output/Input (APEX) <--------
Explanation:
This is the <u>CORRECT</u> answer for APEX.
Projects are a frequent part of business. They differ from routine activities in that they usually have a narrow focus, specific deadline and may occur only once or infrequently. Some project types recur but differ in their goals. I hope it helps !
Answer:
$1,032
Explanation:
Calculation to determine What monthly rent must she charge for each apartment to break even
First step is to calculate the Monthly costs using this formula
Monthly costs = Mortgage payment + Real estate taxes + Insurance costs + Maintenance costs
Let plug in the formula
Monthly costs=$1,510 + ($2,304 / 12) + ($1,452 / 12) + [2 ×($1,446 /12)]
Monthly costs= $1,510 + 192+ 121 + 241
Monthly costs= $2,064
Now let calculate the Break-even monthly rent per apartment
Using this formula
Break-even monthly rent per apartment = Monthly costs / 2
Let plug in the formula
Break-even monthly rent per apartment = $2,064 / 2
Break-even monthly rent per apartment = $1,032
Therefore What monthly rent must she charge for each apartment to break even will be $1,032