Answer:
Jordan Enterprises
1) The impairment loss = $110,000.
2) Journal Entry to record the impairment loss:
Debit Broadcast License Impairment Loss $110,000
Credit Accumulated Impairment Loss $110,000
Explanation:
a) Data and Calculations:
Broadcast license original cost (book value) = $786,000
Market value of similar broadcast license = 676,000
Impairment loss = $110,000
b) US GAAP defines impairment loss as the decrease in an asset's net carrying value. This means that impairment loss arises when the book or net carrying value is greater than the future estimated cash flows or the market value of the asset.
Answer:
The annual financial disadvantage is $62,560
Explanation:
<u>Analysis of the Costs of Producing Internally and Buying from External Supplier.</u>
Producing Internally External Supplier
Direct materials $3.50 $0
Direct labor $8.10 $0
Variable manufacturing overhead $8.60 $0
Supervisor's salary $4.00 $0
Depreciation of special equipment $2.40 $0
Allocated general overhead $7.60 $7.60
Extra contribution $0 ($2.19)
Purchases Cost $0 $32.70
Product Cost $34.20 $38.11
<u>Conclusion :</u>
We can see that the Product Cost to produce the part internally costs $3.91 less than the cost to purchase from external supplier. Therefore Sewtfi861 Corp has a disadvantage.
Annual disadvantage = 16,000 units × $3.91
= $62,560
Answer:
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It’s going to be A and it’s self explanatory so i don’t have an explanation
The contract must be very detailed and should include all the contingencies spelled out in it.
<u>Explanation:</u>
Contract is a document that is made between two or more than two parties who have come in to an agreement with each other over a particular thing. The contract might be a business contract that the parties make which should have the proportion of profit and liabilities of the business that is to be shared among the partners.
Since the profit and losses are to be shared between the business partners on the basis of this contract, the contract should have very detailed information in it and all the contingencies should be spelled out in it.
