Answer:
The totals of Trial balance have a difference of $8,000. The credit balance totals of Trial balance is higher than the debit totals because the original entry of debit is mission and there is an wrong posing on the credit side which reduce the debit balance by $4,000 and Increase the credit balance by $4,000 at the same time. Net effect will be $8,000 in totals of trial balance.
Answer:
1. $2.5 million
2. $0
Explanation:
1. 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
= $6.5 million - $4.0 million
= $2.5 million
2. In this case, the sum of future cash flows is exceeded than the book value. So, no impairment loss would be recognized i.e zero amount
Essay writing is given to students in order to test their writing and reading skills.
<h3>How to write an essay?</h3>
Based on the information given, the way to write the essay will be given. Firstly, it's important to decide on your topic. In this case, it is an essay analyzing the STEEPLE Module.
Research should be done on the topic and create an essay outline. STEEPLE stands for social, technological, economic, environmental, political, legal, and ethical. Set your argument in the introduction and develop it with evidence.
Finally, check the content, grammar, formatting, and spelling of your essay.
Learn more about essays on:
brainly.com/question/24799048
Answer:
The correct answer is B. Agreements.
Explanation:
Agreement is, in Law, the decision taken jointly by two or more persons, or by a board, assembly or court. It is also called a pact, treaty, agreement, convention or resolution taken within an institution (any type of organization or company, public or private, national and international).
It is, therefore, the manifestation of a convergence of wills (decision by consensus) in order to produce legal effects. The main legal effect of the agreement is its obligation for the parties that grant it (Pacta sunt servanda) being born for the same obligations and rights (bilateral or synalagmatic contract), all to the extent provided by applicable law.
The legal validity of an agreement requires that the consent of the grantors is valid and its purpose is true and determined, not out of trade or impossible. Regarding the form of its celebration, oral or written, laws usually require certain formalities that depend on the nature of the obligations agreed upon.
