Answer:
True
Explanation:
Chief financial officer is one of the key positions at any company or firm. Chief financial officer plays a critical role in managing cash, account receivable and inventory management. He/She is responsible for handling the cash and managing the cash in such a way to remove chances of bankruptcy and shortages. Overall, it is an important post to complete all the tasks related to cash handling and inventory.
Answer:
$2,560,000
Explanation:
impairment loss = division's book value - division's fair market value = $3,080,000 - $2,320,000 = $760,000
Assets held for sale are no longer depreciated, but they must be recorded at lower value between carrying cost and fair market value. Since the fair market value is lower than carrying value, then an impairment loss results.
loss on discontinued operations = loss from operations 2019 + impairment loss = $1,800,000 + $760,000 = $2,560,000
$24,800 would be the book value of the asset on January 1, 2019
Explanation:
Straight-line depreciation is a popular depreciation process in which the value of a fixed asset slowly declines over its useful life.
Straight line depreciation is the default method used to slowly reduce the amount of a fixed product over its useful life.
Divide the estimated useful life (in years) into 1 to arrive at the straight-line depreciation rate.
Multiply the depreciation rate by the asset cost (less salvage value).
For example, if a of $20,000 and a useful life of 5 years. The straight line depreciation for the machine would be calculated as follows: Cost of the asset: $100,000. Cost of the asset – Estimated salvage value: $100,000 – $20,000 = $80,000 total depreciable cost.
D I think I'm only in year 7 haha
