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Lelu [443]
3 years ago
14

G MC Qu. 87 When is a goodwill impairment loss... When is a goodwill impairment loss recognized?

Business
1 answer:
marin [14]3 years ago
6 0

Answer:

Goodwill impairment occurs when a company decides to pay more than book value for the acquisition of an asset.

An impairment is recognized as a loss on the income statement and as a reduction in the goodwill account. The amount of the loss is the difference between the current fair market value of the asset and its carrying value or amount.

Explanation:

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Morgan Pharmaceutical spends $50,000 this year in research and development for a new drug to cure liver damage. By the end of th
kenny6666 [7]

Answer:

The impact of spending $50,000 on the research and development for a new drug to to cure liver damage will increase the expenses of the Morgan Pharmaceutical in the years financial statements.

Explanation:

Morgan pharmaceutical is pending $50,000 on he research and development of new drug which can cure the liver damage, from this spending company is expecting that after they have successfully created new drug it will lead to the increase in sales , which will ultimately lead to increase in profits , which then would totally recover the initial cost incurred on research and development but until then these expenses would be shown in the current years financial statement as expenses, and thus would increase the total expenses of the company.

3 0
3 years ago
The __________ approaches her social world with practical knowledge, whereas the __________ approaches the world by using reason
Mnenie [13.5K]

The <u>everyday actor </u>approaches her social world with practical knowledge, whereas the <u>social analys</u>t approaches the world by using reasoning and questions to<u> </u>gain deeper insights.

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Social Media Analyst collects and analyzes data day-to-day social media advertising campaigns. Assists groups in figuring out suitable social media channels for their specific enterprise needs, and tailors campaigns every day for the target audience.

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7 0
1 year ago
It is illegal for a government to spend money for any purpose unless a valid appropriation for that purpose exists. Does this le
mixas84 [53]

Answer:

Yes

Explanation:

it ensure good financial management as it requires a valid appropriation to spend an amount. it means the budget authority to the government is subject to a valid purpose. this legal rule helps to curtail unnecessary spending and assure that funds go where they are most needed

7 0
3 years ago
An unfinished desk is produced for $35.65 and sold for $64.20. A finished desk can be sold for $76.00. The additional processing
Grace [21]

Answer:

Differential revenue from further processing:

= $11.80.

Explanation:

a) Data and Calculations:

Cost of production of an unfinished desk = $35.65

Selling price of an unfinished desk = $64.20

Selling price of a finished desk = $76.00

Additional processing cost = $6.15

Revenue per finished desk    $76.00

Revenue per unfinished desk 64.20

Differential revenue                $11.80

Differential cost per desk:

Cost of unfinished desk       $35.65

Additional cost for producing   6.15

Differential from further processing $41.80

                                     Unfinished     Finished       Differential

Revenue                          $64.20         $76.00           $11.80

Cost of production          (35.65)           (41.80)             (6.15)

Net income                     $28.55         $34.20            $5.65

4 0
2 years ago
Indicate whether the following items would appear on the income statement (IS), balance sheet (BS), or retained earnings stateme
irina [24]

Answer:

Notes Payable - Balance sheet

Advertising expense - Income statement

Common stock - balance sheet

Cash - balance sheet

Service revenue - income statement

Dividends - Statement of Retained Earnings

Explanation:

A. Notes payable will appear on Balance sheet(Under Liability)

B. Advertising expense will appear on Income statement(Under expense)

C. Common stock will appear on Balance sheet(Under Equity)

D. Cash will appear on Balance sheet(Under Asset)

E. Service Revenue will appear on Income statement(Under revenue or sales or income)

F. Dividends will appear on Statement of Retained Earnings which is the same thing as Statement of Owner's Equity

3 0
3 years ago
Read 2 more answers
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