1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
disa [49]
3 years ago
12

Presented below is net asset information related to the Marin Division of Santana, Inc.MARIN DIVISIONNET ASSETSAS OF DECEMBER 31

, 2017(IN MILLIONS)Cash $64Accounts receivable 213Property, plant, and equipment (net) 2,608Goodwill 214Less: Notes payable (2,603)Net assets $496 The purpose of the Marin Division is to develop a nuclear-powered aircraft. If successful, traveling delays associated with refueling could be substantially reduced. Many other benefits would also occur. To date, management has not had much success and is deciding whether a write-down at this time is appropriate. Management estimated its future net cash flows from the project to be $430 million. Management has also received an offer to purchase the division for $335 million. All identifiable assets’ and liabilities’ book and fair value amounts are the same.Prepare the journal entry to record the impairment at December 31, 2017. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Business
1 answer:
BartSMP [9]3 years ago
8 0

Answer:

The impairment loss of $161m is jounalized below:

Account Debit Credit

                                $m         $ m

Loss on impairment 161.00  

Goodwill                               161.00

Being impairment recorded  

The impairment test on Marin division of Santana that gave rise to impairment loss of $161 m found in the attached spreadsheet

Explanation:

Please note excel formula used in each cell.

Download xlsx
You might be interested in
In three years, when he is discharged from the Air Force, Steve wants to buy an 8,000 power boat.
eduard

Steve will get $11360 with the process of simple interest.

<h3>what is simple interest?</h3>

Simple interest is calculated based on a loan's principal or the initial deposit into a savings account. Simple interest doesn't compound, therefore a creditor will only charge interest on the principal sum, and a borrower will never be required to pay further interest on the interest that has already accrued.

Rate of interest = 14%

principal + interest = $8000

Time = 3 years

Simple interest

=\frac{8000 \times 3 \times 14}{100}\\=3360

Now principal + interest = 8000+3360 = 11360

Therefore, Steve will get $11360.

To learn more about simple interest from the given link

brainly.com/question/25793394

#SPJ4

4 0
2 years ago
The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing:
Lera25 [3.4K]

<u>Solution and Explanation:</u>

The following journal entries will be passed in the book sof fasteners Inc., Co., which is a supplier of buttons and zippers for clothing

Date        Accounts Titles and Explanation  Post Ref    Debit  Credit

1 Nov-21  Notes receivable                                      $ 72,000  

      Accounts receivable-McKenna Outer Wear Co.        $ 72,000

2  Dec-31  Interest receivable (72000 * 9 \% * 40 / 360)    $720  

 Interest revenue                                                     $ 320

3  Jan-20  Cash                                           $ 73080  

 Interest revenue (72000 * 9 \% * 20 / 360)         $360

 Interest receivable                                          $720

 Notes receivable                                               $72,000

Note: the figures have been calculated and rounded off in the nearest dollar amount.

4 0
3 years ago
Although generous disability insurance can help those who have been permanently injured, it can also increase the likelihood tha
emmasim [6.3K]

Answer:

B, Indirect incentive

Explanation:

An incentive is anything that motivates an individual to behave in a certain way. An incentive could range from money to many other things and it is the reason why an individual acts in a certain way.

For example, salary and bonuses are incentives for workers. This makes the worker work better and harder and more efficiently because he/she knows that there is something to encourage him for doing his/her work diligently.

Incentive can be direct or indirect as in the case of the above question.

In the case of the above question, a generous disability insurance can motivate workers to falsely claim to be disabled. This means that the financial implication of the insurance package for disability is most likely the only reason for workers to claim false disability.

Cheers.

4 0
3 years ago
Why is a price floor set above an equilibrium price tends to cause persistent imbalances in the market?
kotykmax [81]

Answer:

A price floor set above the equilibrium price will result in a surplus of supply.  

Explanation.

An equilibrium price refers to the price at which demand for a service or product is equivalent to the quantity of the product or service supplied in the market.

Setting a price floor above the equilibrium price essentially means that the set prices will be higher than what demand is willing to pay for the product or service. Demand will therefore purchase fewer quantity of the product offered by supply at the prevailing price than they would have at equilibrium price.

Since the price floor will raise the product price to considerably higher than the equilibrium price, supply will be willing to provide higher volumes of the product at the prevailing price than at equilibrium price.

This will lead to a mismatch in the market between supply and demand resulting into a surplus.

5 0
3 years ago
an online store wants a database of customer information but it does not have the meta pixel installed. which campaign objective
madam [21]

The <u>c</u>ampaign objective which meets this business goal is Lead Generation

<h3>What is Lead Generation?</h3>

This refers to the process through which potential customers are identified and cultivated.

Hence, we can see that from the given scenario of the use of a database of customer information to identify their purchase decisions but has no metadata installed, this is lead generation.

Read more about Lead Generation here:

brainly.com/question/14972440

#SPJ12

3 0
2 years ago
Other questions:
  • Predict how the price of athletic shorts would change if schools banned their use.
    5·1 answer
  • Help me with this I do not know how to answer it
    6·2 answers
  • Like a good economist, you calculated the opportunity cost of getting your college degree. suppose that at your university, you
    8·2 answers
  • The amount of earnings left after taxes and other deductions are taken out is what
    11·1 answer
  • As a certified public accountant, you have been contacted by Joe Davidson, CEO of Sports Pro Athletics, Inc., a manufacturer of
    6·1 answer
  • Hyperlink is a feature that - a- calculates data in a cell B- connects test in the doc to an outside source C- saves a worksheet
    6·1 answer
  • A $72 NSF check was returned from Mr. Smith, a company client. On a bank reconciliation, this would be shows as a(n)
    6·1 answer
  • Ill give Brainliest to the one that awnsers
    15·1 answer
  • If the number of memberships at the local gym increased from 400 to 500 when the membership price fell from $48 to $40 per month
    8·1 answer
  • The preventative maintenance plan for your automobile is $896. If you were required to replace your battery and starter for $98
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!