Answer:
ACME Drilling should record impairment loss of $6.9 million
Explanation:
According to GAAP, when the fair value of an asset is below the net carrying amount of that asset ( Asset's historical cost - Asset's accumulated depreciation or the net book value of the asset), the Company should record it as asset impairment loss.
In ACME's case, the net book value is $18.6 million while the estimated fair value is only $11.7 million meaning that the platform is actually worth less than it is recorded on ACME's book. Thus, an impairment loss of $6.9 million should be recorded ( $18.6 million - $11.7 million) to realize the fair value of the oil-drilling platform.
The sum of projected sum of future cash flows in this case is not suitable to be used to determine the oil-drilling platform because it has not been discounted to the present value amount, and also, it is not appropriate under GAAP.
Answer:
The correct answer is A: %70,154
Explanation:
Giving the following information:
True: Finding the present value of cash flows in future years tells you how much you would need to invest today so that it would grow to equal the given future amount.
What is the value today of a $158,000 cash flow expected to be received 12 years from now based on an annual interest rate of 7%?
We need to use the following formula:
PV= FV/(1+i)^n
FV= final value
i= interest rate
n= number of years
PV= 158000/(1.07^12)= $70,154
Answer:
6.35, 6.39 and 6.49
Explanation:
6.3% = 0.063
yield = 0.063 ×$1,000/ 0.992 yield = 0.063 ×$1,000)/ 0.992 ×$1,000)
Current yield = 0.0635, or 6.35 percent PV = $992 = 0.063× $1,000 / 2) ×{(1 - {1 / [1 + (r / 2)]26}) / (r/ 2)} + $1,000 / [1 + (r / 2)]26 r = .0639, or 6.39 percent EAR = [1 + .0639 / 2)]2 - 1 EAR = .0649, or 6.49
Answer:
The correct option is E ,a gain of $2000
Explanation:
A carrying value of $203000 implies that Chang industries currently has obligation of paying bondholders $203000 sitting in the bond payable account.
From the above, to settle the obligation a cash outflow of $203,000,hence paying only $201000 means the company pays $2000 less than it ought to pay,then a gain of $2000 is recorded.
The double entries for this transaction is given below
Dr Notes payable account $203000
Cr cash account $201000
Cr gain on redemption $2000
The gain is written to profit or loss in the period of redemption as it is a realized gain.
Answer;
<u>Essay on mobile phone</u>
Essay on Mobile Phone: Mobile Phone is often also called “cellular phone”. It is a device mainly used for a voice call. Presently technological advancements have made our life easy. Today, with the help of a mobile phone we can easily talk or video chat with anyone across the globe by just moving our fingers. Today mobile phones are available in various shapes and sizes, having different technical specifications and are used for a number of purposes like – voice calling, video chatting, text messaging or SMS, multimedia messaging, internet browsing, email, video games, and photography. Hence it is called a ‘Smart Phone’.
<u><em>EXTRA: </em></u><em> </em>Advantages of Mobile Phone
1) Keeps us connected
Now we can be connected to our friends, relatives at any time we want through many apps. Now we can talk video chat with whoever we want, by just operating your mobile phone or smartphone. Apart from this mobile also keeps us updated about the whole world.
2) Day to Day Communicating
Today mobiles phone has made our life so easy for daily life activities. Today, one can assess the live traffic situation on mobile phone and take appropriate decisions to reach on time. Along with it the weather updates, booking a cab and many more.
3) Entertainment for All
With the improvement of mobile technology, the whole entertainment world is now under one roof. Whenever we get bored with routine work or during the breaks, we can listen to music, watch movies, our favorite shows or just watch the video of one’s favorite song.