Tax savings generated from deductions are considered cash inflows.
Answer: false
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Answer:
The correct answer is $0
Explanation:
Solution
An Impairment loss recognized when a book value of reporting company is more than its fair value, In the given example, the book value is not more than its fair value or higher than the value, hence the amount of the impairment loss that Antle Inc would record for goodwill at the end of 2021 is: Impairment loss is $0
Answer:
Company quotes an interest rate 17 percent on one-year loans.
Explanation:
Borrow value=$34000
interest rate of company in one year=17 percent
Total interest in a year =$34000×
total interest=$5780
Total payment in one year=$34000+$5780
Total payment=$39780
You will pay $39780/12 or $3315.00/month according to company statement.
Answer:
the total amount owed to general unsecured creditors is $71,000
Explanation:
The computation of the total amount owed to general unsecured creditors is shown below:
= Account payable + wages payable + taxes payable + interest on note payable + interest on bond payable
= $40,000 + $6,000 + $12,000 + $5,000 + $8,000
= $71,000
hence, the total amount owed to general unsecured creditors is $71,000
The same is to be considered