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Paul [167]
2 years ago
12

On January 1, 20X8, L Corporation acquired all of the common stock of S Company for $300,000. On that date, S Company's identifi

able net assets had a fair value of $250,000. The assets acquired in the purchase of S are considered to be a separate reporting unit of L Corporation. The carrying value of S Company's net assets at December 31, 20X8, is $310,000. The fair value of the reporting unit is determined to be 260,000. Determine the amount, if any, of impairment loss to be recognized at December 31, 20X8.
a. 40,000
b. 50,000
c. 10,000
d. 60,000
Business
1 answer:
dimaraw [331]2 years ago
3 0

Answer:

b. 50,000

Explanation:

According to the given situation, the computation of impairment loss is shown below:-

The Amount of impairment loss to be recognized at December 31, 20X8 is

= Net assets - Fair value of reporting unit

= $310,000 - $260,000

= $50,000

Therefore we applied the above formula to determine the amount of impairment loss to be recognized at December 31, 20X8.

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Answer:

C. subject to review by higher levels of management in order to prevent the budgets from becoming too loose.

Explanation:

Self-imposed budgets typically are subject to review by higher levels of management in order to prevent the budgets from becoming too loose.

Self-imposed budget also known as the participative budget is a type of budget where individuals having responsibility for controlling costs, prepares their own budget estimates and present them to the top level of management for review.

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3 years ago
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A

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2 years ago
Indicate what components of GDP (if any) each of the following transactions would affect. Check all that apply.
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Answer:

not included

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Items not included in the calculation off GDP includes:  

1. services not rendered to oneself

2. Activities not reported to the government  

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