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Rus_ich [418]
3 years ago
12

In 2010,Chesley Inc. acquired Corrigan Ltd. in a hostile takeover. However, the expected synergies never materialized. In 2013,

Chesley decided to write-off $45 million of Goodwill on the financial statements to recognize that the Goodwill had become impaired.Which of the following items would be decreased by the impairment of Goodwill?
a- Total Assetsb- Net Incomec- Cash from Operating Activitiesd- Cash from Financing Activitiese- Cash from Investing Activities
Business
1 answer:
Evgesh-ka [11]3 years ago
7 0

Answer:

a- Total Assets

Explanation:

Impairment write downs are not cash related events but an accounting entry made to reduce the carrying amount when Carrying Amount of an Asset is found to be greater than the Recoverable Value of the Asset.

Carrying Amount of an Asset is Cost less Accumulated depreciation of an asset. While the Recoverable Value of the Asset is the higher of Fair Value and Value in use of an asset.

Therefore, only Total Assets decrease as a result of impairment of Goodwill.

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Listed below are year-end account balances (in $millions) taken from the records of Symphony Stores.
azamat

Answer:

d) $2,377 millions.

Explanation:

Total of Assets comprises the sum of Current Assets and Non Current Assets. Current Assets are assets of a short term nature not exceeding 12 months and Non - Current Assets are assets of a long term nature, exceeding 12 months.

In the Balance Sheet, some assets are presented at their net amounts. Property Plant and Equipment is presented net of accumulated depreciation. Trade Receivables are presented net of allowances for uncollectable amounts.

Therefore,

Total Assets Calculation :

                                                                       $ millions

Accounts receivable-trade                              699

Building and equipment                                  930

Cash-checking                                                   40

Interest receivable                                             34

Inventory                                                            25

Land                                                                  166

Notes receivable (long-term)                         484

Petty cash fund                                                   7

Prepaid rent                                                      28

Supplies                                                              8

Trademark                                                        49

Accumulated depreciation                             (75)

Allowance for uncollectible accounts            (18)

Total Assets                                                  2,377

3 0
3 years ago
Now that you‘ve learned about the history of credit and debt in America, how does this impact the way you think about money? Wha
yKpoI14uk [10]

The history of credit and debt in America impact me in a way that though a lot of people disliked like the idea of debt, it is one of the way of life.

<h3>Is credit history important in our lives?</h3>

Good credit is known to be one that plays a key role in a person's financial life.

Note that it is one that is seen to be not only essential and it is one that is used to be qualifying for a loan or when one is trying to get a credit card,

Credit scores do influence our  financial life and as such, The history of credit and debt in America impact me in a way that though a lot of people disliked like the idea of debt, it is one of the way of life.

Learn more about debt from

brainly.com/question/1957305

#SPJ1

4 0
2 years ago
Rivalry among existing competitors is ________ when competition is fierce in a market and ________ when competitors are more com
anygoal [31]

Answer:

Rivalry among existing competitors is high when competition is fierce in a market and low when competitors are more complacent.

Explanation:

The market in this case is a general place or area where the business of trade can be conducted. The trade is usually for commercial purposes. In a market where there are many parties involved particular in the sale of the same goods or services, competition is likely to develop. Competition in the context of marketing is the activity of a company or business trying to gain an upper hand over the other party. Competition is always over the same products and services or over similar target audience. The main aims of competition in business is to achieve more sales or to gain a larger share of the market over the competition. Business competition is important due to various factors; improves service delivery, makes the business better, improves employee efficiency and also boosts innovation.

An existing competition in a market can be defined as either high or low depending on the level of aggression by the competitors in that market. A fierce market is one where the competitors are very aggressive, this means that the rivalry among existing competitors is high. On the other hand, when the competitors are complacent, the rivalry in the market is low

5 0
3 years ago
Motor Sports, Inc., sues A-Z Speed. Motor Sports alleges that A-Z breached (failed to perform) a contract that required A-Z to s
Andre45 [30]

Answer:

Documents related to the contract

Explanation:

When a contract is made between parties they usually sign an agreement. The reason to sign an agreement is if one tries to breach the contract they can sue them with prove. In the above scenario, motor Sports Company has sued A-Z sports and alleges that A-Z sports have breached a contract. Under the rules governing discover, the court will permit motor sports to obtain the documents related to the contract.

4 0
3 years ago
Which of the following statements about the admission process is FALSE?
ser-zykov [4K]
It requires information about yourself and your family.
7 0
3 years ago
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