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
levacccp [35]
3 years ago
15

Headland Co. has a held-to-maturity investment in the bonds of Schuyler Corp. with a carrying value of $79,200. Headland determi

ned that due to poor economic prospects for Schuyler, the bonds have decreased in value to $70,800. It is determined that this loss in value is uncollectible.
Prepare the journal entry, if any, to record the reduction in value.
Business
1 answer:
Allisa [31]3 years ago
7 0

Answer:

The Journal Entry is as follows:

Loss on Impairment $8,400

Debt Investment ($8,400)

Explanation:

Given.

Carrying Value = $79,200

Decreased Value = $70,800

Differences = $79,200 - $70,800

Differences = $8,400

Since the loss in value is determined, uncollectible.

The required entry on the journal entry are the amount loss on impairment and the amount invested on debt.

The Journal Entry is as follows:

Loss on Impairment $8,400

Debt Investment ($8,400)

You might be interested in
How much will you have if you wait 10 years before beginning to save and only make 35 payments into your retirement​ account?
Ivahew [28]
It all dependes on the money you make and how big the payments are. as you can say you waited tell the day you where going to retire but you but 10,000 dollars in your saving every hour by the end of the day youd have 240,000 dollars in your retirement account.
4 0
3 years ago
Why do courts permit fraud to disrupt genuine agreement in a contractual setting?
WARRIOR [948]
I’m pretty sure it has something to do with trial lengths and the sort
3 0
3 years ago
The analytic technique utilized after an adverse event occurs to prevent its recurrence is called?
azamat

The analytic technique utilized after an adverse event occurs to prevent its recurrence is called Root cause analysis.

<h3>What are the root cause analysis five steps?</h3>
  • Root cause analysis is a technique for problem-solving used in science and engineering to determine the underlying reasons of errors or issues.
  • It is frequently utilized in areas like information technology operations, telecommunications, industrial process control, accident investigation, and the healthcare sector.
  • Realize the Issue: To start, you must decide what went wrong.
  • Gather a Good Amount of Information.
  • Determine the Related Causal Factors.
  • Create a conclusion.
  • Make any necessary adjustments.
  • The analytic technique utilized after an adverse event occurs to prevent its recurrence is called
  • Root cause analysis.

To learn more about the Root cause analysis, refer to the following link:

brainly.com/question/19571344

#SPJ4

6 0
1 year ago
Techniques in identifying customers' needs and wants
Rainbow [258]
Good customer research is a very important part of the business, because knowing what the customers want and why they want that will help in better sale.Some of the techniques of <span>identifying customers' needs and wants are:
- Interviewing customers
- Conducting voice and customer surveys
- Analyzing your competition
- Interviewing stakeholders and obtaining the data they have

</span>
4 0
3 years ago
"IFRS uses a fair value test to measure impairment loss. However, IFRS does not use the first-stage recoverability test under GA
stiv31 [10]

Answer:

As a result, the IFRS test is more strict than U.S. GAAP.

3 0
4 years ago
Other questions:
  • Journalize the following transactions for Armour Inc. using both the periodic inventory system and the perpetual inventory syste
    15·1 answer
  • Your supervisor has come to you with the following list of expenditures for the year and is asking you whether they should be ca
    7·2 answers
  • Tangshan Industries has issued a bond which has a​ $1,000 par value and a 15 percent annual coupon interest rate. The bond will
    9·1 answer
  • The price of ice cream increases. In 1 or 2 sentences, explain how and why this affects the quantity of ice cream cones demanded
    11·2 answers
  • On March 1, Bartholomew Company purchased a new stamping machine with a list price of $83,000. The company paid cash for the mac
    10·1 answer
  • (Last Word) From 2006-2010, the federal government paid $600 million in retirement benefits to deceased federal employees, with
    8·1 answer
  • Informal organization suggests that cliques and other social groups can affect employee behavior.a. Trueb. False
    5·1 answer
  • If you take out money from a CD before it reaches maturity you must A) pay the bank a penalty, typically three months' interest.
    5·2 answers
  • Fun Stuff Manufacturing produces frisbees using a three-step sequential process that includes molding, coloring and finishing. W
    9·1 answer
  • What is the largest type of financial institution ?
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!