Answer:
Jordan Enterprises
1) The impairment loss = $110,000.
2) Journal Entry to record the impairment loss:
Debit Broadcast License Impairment Loss $110,000
Credit Accumulated Impairment Loss $110,000
Explanation:
a) Data and Calculations:
Broadcast license original cost (book value) = $786,000
Market value of similar broadcast license = 676,000
Impairment loss = $110,000
b) US GAAP defines impairment loss as the decrease in an asset's net carrying value. This means that impairment loss arises when the book or net carrying value is greater than the future estimated cash flows or the market value of the asset.
Debit Interest Expense [$480,000 x 8% x 360/360] = $38,400.00
<span>Credit Interest Payable = $38,400.00</span>
Answer:
Jillian
What Jillian should ideally do is:
a. Contribute 1650 in a Roth IRA, and 1350 In her company’s 401(k) plan.
Explanation:
a) Data and Calculations:
Salary = $45,000
401(k) = 3% of $45,000 = $1,350
Employer's match to the 401(k) = $1,350 (100%)
Savings affordable = $3,000
b) Jillian can contribute to Roth IRA and her company 401(k) which her company will also match 100%. Her contributions to both funds are within the allowed limits. In 2020, the allowed limit of 401(k) plan is $19,500 while that of Roth IRA is $6,000.
Answer:
The correct answers would be Skills and Employment outlook respectively.
Explanation:
When you are about to choose a career that will be best suited to you, It would be best to find out your skills that would be required to perform the job effectively. A person must be aware of his skills and talents and then he has to search for the career accordingly, because this will determine whether the career is a good match with your skills or not. After this assessment, you should also look into the market trends for the job opportunities of the career that you are thinking to pursue. This will help you focus more on the career development and save your time to search for the job after completing the academic career in the non relevant field.
The law of supply generally asserts that the producers will offer more of a product at high prices than at low prices.
<h3>What does
law of supply states?</h3>
The economic law states the higher the price, the higher the quantity demanded; because the sellers get more profit when the price is higher, this encourages the producer to produce at high price.
Therefore, the Option A is correct.
Read more about law of supply
<em>brainly.com/question/1222851</em>
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