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vaieri [72.5K]
2 years ago
11

A subsidiary has previously unreported brand names valued at $50 million at the date of acquisition. The brand names have an ind

efinite life. It is now the end of the second year since acquisition, and you are consolidating the accounts. The subsidiary still owns the brand names. Impairment testing reveals that the brand names were impaired by $5 million in the first year and $7 million in the second year. Eliminating entry (E) will include a(n):
Business
1 answer:
Damm [24]2 years ago
4 0

Answer:

$38 million.

Explanation:

From the question, we are given the following data or information;

A subsidiary has previously unreported brand names valued = $50 million at the date of acquisition.

Impairment testing reveals that the brand names were impaired by $5 million in the first year.

Impairment testing reveals that the brand names were impaired by $7 million in the second year.

Therefore, Eliminating entry (E) will include a(n):

=> $(50 - 5 - 7) million = $38 million.

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Yeloe Corporation sells 400 shares of common stock being held as an investment. The shares were acquired six months ago at a cos
guajiro [1.7K]

Answer:

a.

Explanation:

Cash (400*40)              Dr.$16,000

Loss on sale of stock investments (400*40-400*600  Dr.$8,000

Stock Investments  (400*60)                                          Cr.$24,000

As the stock was sold $20 below its purchase price therefore $20*400 will be recorded as loss on investments.The loss on investments and Cash will be debited and investments have decreased therefore credited.

6 0
3 years ago
Steve owns a bike store. His total costs are $1.2 million per year, his variable costs are $750,000, and his fixed costs are $45
ahrayia [7]

Divide variable costs by output. Therefore, it would be 750000 divided 1200, giving you $625.

6 0
3 years ago
Read 2 more answers
Question 1 which of the follow will happen if you miss a monthly credit card payment?
Stells [14]
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Hope this helps!
6 0
3 years ago
Which statement best describes the two billing cycle method that some credit card companies use
Alborosie

Answer:

Double-cycle billing is a method used by creditors, usually credit card companies, to calculate the amount of interest charged for a given billing period. It takes into account not only the average daily balance of the current billing cycle (usually one month), but also the average daily balance of the previous cycle.

Explanation:

idk...my mom helped me answer this for you

3 0
3 years ago
A transaction between two parties who agree to trade money for a product or service is referred to as​ _____ exchange.
zimovet [89]
The answer to this question is: Voluntary exchange
In economy, voluntary exchange refers to the trade of resources between two parties that based on their own will.
This type of exchange usually could only happen because both parties feel that they will be advantaged from the exchange
3 0
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