Answer:
a) Decrease goodwill by $13,000
Explanation:
In IFRS, whenever recoverable amount of a cash generating unit is less than the carrying amount, an impairment loss is recognized. After calculating an impairment loss, it is then allocated to the carrying amount of Cash generating unit's goodwill.
Impairment loss in this case is = Total carrying amount - Recoverable amount of CGU = $45,000 - $32,000 = $13,000. Hence, the impairment loss will be allocated to the carrying value of the goodwill, leading to decrease in goodwill by $13,000.
A transaction in which an owner of tangible personal property transfers the property to another party while still retaining ownership of such property is known as a " Bailment".
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What do you mean by Bailment?</h3>
The term Bailment is the term under the law which describe the possession of particular of property that is given by seller to buyer without transferring the ownership.
The example of this type of bailment include contracts for the lease of a car, movement of goods and sale of goods on consignment basis.
According to the English Common Law, it would justify that the right of a person to possess a thing without owning the thing. This type of right authorize the specific transactions to be conducted without the generation of any legal ownership.
At the time when bailor transfer the property to bailee, bailee can used this property of his/her personal use, create a relation between bailor and bailee and for the benefit of bailor only.
This bailment is generally defined as the contract based upon the condition of possession only. In which the property can be disposed off as per the direction of bailor.
Learn more about Bailment, refer to the link:
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The first law of demand states that as price increases, less quantity is demanded. This is why the demand curve slopes down to the right. Because price and quantity move in opposite directions on the demand curve, the price elasticity of demand is always negative.
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Answer:
$80,000
Explanation:
For computing the total overhead cost, first we have to compute the plant wide rate which is shown below:
= (Machine hours cost + setup cost + received order cost + packing order cost) ÷ (Total machine hours)
= ($70,000 + $50,000 + $10,000 + $30,000) ÷ (24,000 machine hours)
= $160,000 ÷ 24,000 machine hours
=$6.67
Now the total overhead cost equals to
= Machine hours of 35 mm × plant wide rate
= 12,000 machine hours × $6.67
= $80,000
Answer:
a. Lexington can allow for Mr. Wilcox’s continued enrolment for up to 12 months whether or not he is in a visitor/traveller (V/T) program.
Explanation:
Private - Fee - For - Similar Plans is much similar like the original medicare plans. This is provided through a private health insurance company.
In the given instance, Mr. Wilcox plans to relocate near his children, who live in some other state.
As he will move to another service area, he shall simply not be disabled to claim the benefits of PFFS. Further, the insurance company can still cover him for another 12 months, even if he does not choose to visit the current service area as traveller in upcoming 12 months.
