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Answer:
Case 1 = $9,420
Case 2 = 0
Explanation:
Determining the amount of impairment loss is given below:-
Case 1
Impairment loss = Amortized cost - Fair value
= $41,640 - $32,220
= $9,420
Case 2
Impairment loss = Amortized cost - Fair value
= 91,800 - $102,220
= 0
Since, the fair value is higher than Amortized cost so the value of Impairment loss in case 2 is 0.
Yes, because harassing grandma is unnecessary and rude.
In case fictitious revenues are recorded asset turnover ratio will increase.
The asset turnover ratio measures the performance of an organization's assets in producing revenue or income. It compares the dollar quantity of income (revenues) to its overall belongings as an annualized percent. hence, to calculate the asset turnover ratio, divide net income or revenue by the average total belongings.
Fictitious revenues contain the sale of goods or services that no longer arise. Fictitious invoices may be fake, but can also contain valid clients. A fictitious invoice may be prepared for a legitimate patron despite the fact that goods are not added or services have no longer been rendered.
Accounting ratios, an important subset of monetary ratios, are a group of metrics used to degree the performance and profitability of an employer based on its financial reports. They provide a way of expressing the relationship between one accounting information factor to any other and are the basis of ratio evaluation.
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Sum of the year's digits is 5 + 4 + 3 + 2 +1 = 15 years.
Depreciation base: 32,000 - 2,000 = 30,000
The depreciation applied in any year is the depreciation base times (number of years remaining divided by 15). The first year has the highest depreciation, and the fifth year has the lowest.
Depreciation:
1st Year: Dep Base x 5/15
2nd Year: Dep Base x 4/15
3rd Year: Dep Base x 3/15
4th Year: Dep Base x 2/15 = 30,000 x 2/15 = 4,000
5th Year: Dep Base x 1/15
Answer is $4,000
