Answer:
$170 million
Explanation:
First we must calculate the implied fair value of goodwill:
fair value of goodwill = Sanchez's fair value - Sanchez's asset valuation = $1,020 million - $900 million = $120 million
impairment loss = recorded goodwill - fair value of goodwill = $290 million - $120 million = $170 million
An impairment loss is a loss generated by the decline of an asset's fair value.
Answer:
Luciana’s basis in the condominium is $120000.
Explanation:
The transfer or sale of property by the employer to the employee at less than the fair market value then it is considered as the compensation income or dividend income. However, it should be included in the income. The difference in cost and fair market value ($120000 - $85000 = $35000) is considered as the gross income which is taxable for the year.
Answer:
$7,514
Explanation:
Calculation for how Legion should report bond interest expense for the six months ended June 30, 2021
Using this formula
Bond interest expense=Bonds amount*Priced to yield percentage
Bond interest expense=$150,272*(10%/2)
Bond interest expense=$150,272*5%
Bond interest expense=$7,513.6
Bond interest expense=$7,514 Approximately
Therefore Legion should report bond interest expense for the six months ended June 30, 2021 in the amount of $7,514
Answer: the correct answer is C interest is currently state and local tax exempt.
Explanation:
A municipal bond is a debt obligation issued by a non-profit organization.
The option C. offers regular or common features that's why it is the correct answer (they are not significant).
Answer:
$11,400 unfavorable
Explanation:
some information was missing:
standard labor hours = 0.5 hours per toy
standard labor rate = $19
total production = 1,650 toys
total labor cost = $47,500
actual labor hours = 1,900
actual labor rate = $47,500 / 1,900 hours = $25
direct labor rate variance = (AR – SR) x AH = ($25 - $19) x 1,900 = $6 x 1,900 = $11,400 unfavorable (since actual labor costs were higher than standard labor costs)
