Answer:
$0
Explanation:
According to US GAAP the reduction in the value of the asset due to a decrease in the fair value. It means when fair value of the asset is reduced than the book value of the asset.
Amortized Cost / Book value = $50,000
Market Value = $53,000
Discounted Value = $51,000
There is no Impairment loss on this asset as the fair market value is more than the book value of the asset.
The main reason to distinguish between common and public goods is to determine who will manage the goods. In common goods, usually there is some sort of government oversight. In public goods, the public at large is in charge of monitoring and protecting the goods.
Answer:
a) $234,000 of net cash used.
Explanation:
Investing activities: It records those activities which include purchase and sale of the long term assets
. The purchase of long term assets is an outflow of cash and the sale of long term assets is an inflow of cash
The computation of the Net cash flows from investing activities is shown below:
Cash flow from Investing activities
Purchase of equipment - $225,000
Proceeds from the sale of equipment $106,000
Purchase of land - $115,000
Net Cash flow from Investing activities - $234,000