Information regarding the potential for a job opening is a ____

Marigold Corp. bought a machine on January 1, 2011 for $806000. The machine had an expected life of 20 years and was expected to

lidiya [134]

Answer: Marigold should record $134,750 as an impairment loss on July 1, 2021

Explanation:

Given that

Cost of the machine= 806,000

Expected life= 20 years

Time between January 1, 2011 and July 1 2021 = 10 1/2years

salvage value $76000.

Fair value= $288, 000

We know that the

Carrying amount /Book Value of machine = Cost of the machine- (Cost of the machine-salvage value)/expected life x time (ie from 2011 and 2021)

Carrying amount of machine =806,000 - [(806,000-76,000)/20 x 10.5 years]

=806,000 -383,250=$422,750

Asset is impaired when the Book value is more than net realizable value,

Here, The Book Value of $422,750 is greater than net realizable value,$395000.

Therefore loss on Impairment= Carrying amount - Fair value

$422,750-$288000

=$134,750

5 0

3 years ago

Gerald took a break while two of his coworkers completed a task that all three of them volunteered for. This shows a lack of ___

Valentin [98]

This shows a lack of responsibility. This is because he has a job to do and he is a just taking a break and being lazy. I don’t know if this is right. But, I hope so. Hope this helped you!!

5 0

3 years ago

In general, firms should use their weighted average cost of capital (WACC) to evaluate capital budgeting projects because most p

Elodia [21]

Answer:

b. false

Explanation:

Generally, this statement is incorrect because the company should be viewed as an ongoing company and the use of debt (or equity) to fund a given project will change the capital structure and this factor should determine the cost of capital on all projects on the target capital structure. "Prague Ekt financing "may be used and in particular the status of the project will be considered. It is a very specific situation, however, it" usually "is not.

8 0

3 years ago

Jiminez, Inc., had the following transactions during the month of March, current year. Prepare an income statement based on this

Citrus2011 [14]

Question Completion:

Cash received from bank loans was $10,000.

Revenues earned and received in cash were $9,000.

Dividends of $4,000 were paid to stockholders.

Expenses incurred and paid were $5,600.

Answer:

Jiminez, Inc.

Income Statement for the month ended March 31:

Revenue $9,000

Expenses 5,600

Net income $3,400

Dividends 4,000

Retained earnings during the year ($600)

Explanation:

Jiminez, Inc. paid more dividends to stockholders this month than it actually generated in net income. The excess amount of dividends must be from retained earnings carried forward from the previous month. In preparing the income statement for the month of March, Jiminez, Inc. must deduct all the expenses from its revenue to obtain the net income before tax. The bank loan does not form part of the items for the preparation of the income statement, as only temporary accounts are considered.

3 0

3 years ago

Why are we forced to make choices in day-to-day life? we are forced to make choices in day-to-day life because of resources.

rewona [7]

We are forced to make choices in our day to day life because our resources are limited.

An example of this limited resources is our financial resources, we need to work to earn money to buy our necessities to live a comfortable life. Simply put, no work no pay. No pay, no food. No food, no life. So, no choice but work.

6 0

3 years ago

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Information regarding the potential for a job opening is a _____.