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vovikov84 [41]
3 years ago
8

Presented below is information related to equipment owned by Bramble Company at December 31, 2020. Cost $10,260,000 Accumulated

depreciation to date 1,140,000 Expected future net cash flows 7,980,000 Fair value 5,472,000 Bramble intends to dispose of the equipment in the coming year. It is expected that the cost of disposal will be $22,800. As of December 31, 2020, the equipment has a remaining useful life of 5 years.Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2020
Business
1 answer:
Neporo4naja [7]3 years ago
5 0

Answer and Explanation:

The journal entry to record the impairment of the loss is shown below:

Loss on impairment Dr $3,670,800  

         To Accumulated depreciation - Equipment $3,670,800

(Being the loss on impairment is recorded)

For recording this we debited the loss on impairment as it increased the losses and credited the accumulated depreciation as it increased the balance of accumulated depreciation

Working note:

Cost $10,260,000

Less: Accumulated depreciation -$1,140,000  

Carrying Amount $9,120,000  

Less Fair value -$5,472,000  

Plus: Cost of disposal $22,800  

Loss on impairment $3,670,800

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Naddika [18.5K]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Condelezza Co. expects to produce 10,000 units of Product A and 20,000 units of Product B in the coming year.

Budgeted factory overhead costs for the coming year are:

Assembly $310,000

Finishing 240,000

Total $550,000

The machine hours expected to be used in the coming year are as follows:

Assembly Dept.

Product A 15,100

Product B 4,900

Total 20,000

Finishing Dept.

Product A 9,000

Product B 11,000

Total 20,000

A) Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 550,000/40,000= $13.75 per machine hour

B) Departamental rates:

Assembly= 310,000/20,000= $15.5 per machine hour.

Finishing= 240,000/20,000= $12 per machine hour.

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3 years ago
The risk-free rate is 2.3 percent and the market expected return is 12 percent. What is the expected return of a stock that has
andrew-mc [135]

Answer:

The expected return = 10.739.

Explanation:

Given risk-free rate of return = 2.3 per cent

Market expected return = 12 percent  

The value of beta = 0.87

Use the below formula to find the expected return.

The expected return = Risk free rate of return + Beta × (Market expected return - risk free rate of return)

The expected return = 2.3 + 0.87 (12 – 2.3)

The expected return = 10.739

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Which of the following are normally recorded on a registration card?
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Beech Manufacturing makes expanded and is now making two products: Standard and Deluxe. Each Standard model takes 1.5 machine ho
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Answer:

Beech Manufacturing

The utilities flexible budget for July is:

= $1,225

Explanation:

a) Data and Calculations:

Utility rate per machine hour = $0.35

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Predicted production                1,100             770      1,870

Expected machine hours        1,650          3,080     4,730

Units produced                       1,200             850     2,050

Standard machine hour/unit      1.5                 2

Budgeted machine hours

(flexible budget)                    1,800           1,700     3,500

Actual machine hours used                                    3,400

Utilities Static Budget = $1,655.50 (4,730 * $0.35)

Utilities Flexible Budget = $1,225 (3,500 * $0.35)

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Answer:

Please see explanations below

Explanation:

1.

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• Give sincere and specific praise to people when they surpass your expectation.

• Always use correct names and titles when addressing people.

• Always choose appropriate topics when sending mails or when communicating.

• Recognize people for good work

• listen to learn in order to be better

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• Be smart, cheerful and accurate at all times

• One has to be professional and courteous at all times

• Avoid small or irrelevant talk that can waste too many time hence causes delay in hitting the point of making the call

• Always end the call with a tactful cue without the receiver being offended

• Summarize the points of the call in order to be sure everyone is satisfied with the discussion.

• Plan an agenda to handle calls in-order to know what one has to discuss

3.

• When in a face to face conversation, be sure you pay utmost attention or avoid having divided attention

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• Receiving calls when you are already engaged in a face to face conversation is disrespectful hence should not be imbibed.

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