The answer that best complete the blank provided above is the term CANNIBALIZATION. Product cannibalization happens when a new product that is being introduced by the same producer, eats up the sales of the other products that exist in the same market resulting in the decrease of the overall sales.
Answer:
Correct answer is (c). bring civil suits under the Alien Tort Claims Act
Explanation:
Alien mean foreign national.
Alien Tort Claims Act (ATCA), also known as Alien Tort Statute, originated from U.S. under a provision of the Judiciary Act of 1789. The law grant U.S. federal courts original jurisdiction over any civil action brought by an alien for a tort in violation of international law or a U.S. treaty.
Answer:
c. $100,000.
Explanation:
Since the book value is more than the generated future cash flows so book value cannot be recovered. In this case, the generated future cash flows are ignored
In this scenario, we compare the values between book value and the fair value of machinery, the difference would be the loss on impairment of the asset
In mathematically,
= Book value - fair value
= $380,000 - $2380,000
= $100,000
Answer:
Explanation:
The journal entries are shown below:
a. Depreciation Expense A/c Dr $4,030
To Accumulated Depreciation - Machinery A/c $4,030
(Being depreciation expense is recorded)
b. Cash A/c Dr $21,850
Accumulated Depreciation - Office equipment A/c $43,770
Loss on Disposal of Office equipment A/c $12,110
To Office equipment A/c $77,730
(Being sale of machinery is recorded and the remaining balance is debited to the loss on Disposal of office equipment A/c)
The accumulated depreciation is computed below:
= $39,740 + $4,030
= $43,770