Customer: "Will you delve into this problem?"

Roland Company uses special strapping equipment in its packaging business. The equipment was purchased in January 2016 for $10,0

Anuta_ua [19.1K]

Answer:

Consider the following calculations

Explanation:

Answer:(a) Carrying value of asset: $10,000,000 - $2,500,000 = $7,500,000.

($10,000,000 ÷ 8) x 2 = $2,500,000

Future cash flows $6,300,000

Carrying value $7,500,000

Impairment entry:

Loss on Impairment A/C Dr. $1,900,000

To Accumulated Depreciation A/C $ 1,900,000

(7,500,000 - 5,600,000 = 1,900,000)

(b) Depreciation Expense A/C Dr. $ 1,400,000

To Accumulated Depreciation A/C $ 1,400,000

($5600000/4=$1400000)

(c ) No depreciation is recorded on impaired assets to be disposed of.

Recovery of impairment losses are recorded.

Loss on Impairment A/c Dr. $1,900,000

To Accumulated Depreciation A/C $ 1,900,000

12/31/2015 Accumulated Depreciation A/C Dr. $ 300,000

To Recovery of Impairment Loss A/C $ 300,000

5 0

3 years ago

How did you feel while you were filling out the inventory?nervous, curious, stressed, relaxed, etc

Usimov [2.4K]

I feel stressed reading this question as it has no context but the question is asking for your opinion. there really is no wrong answer

8 0

3 years ago

Read 2 more answers

What analysis feature of a decision support system (DSS) pinpoints the region that generated the highest total sales

DedPeter [7]

Answer:

exception reporting

Explanation:

A decision support system (DSS) can be regarded as a computerized program that is utilized in supporting determinations as well as judgments, and courses of action s regards a

an organization or a business.

An exception reporting can be regarded as process of using document which states out the instances whereby actual performance is been deviated from expectations in a significantly manner, this is usually in a negative direction. The main reason for this report is to align the attention of management on areas that requires immediate action.

It should be noted that the analysis feature of a decision support system (DSS) pinpoints the region that generated the highest total sales is exception reporting.

6 0

3 years ago

Sheffield Laboratories holds a valuable patent (No. 758-6002-1A) on a precipitator that prevents certain types of air pollution.

vlabodo [156]

Answer:

SHEFFIELD LABORATORY

PATENT (NO. 78-6002-1A)

Carrying value as at Dec 31

2011 2015 2018

Cost $182,300 $349,000 $385,000

Amortization (10,724) (79,433) (142,403)

171,576 269,567 242,597

Cost

As at 31 Dec 2011

Design and construction of a prototype $89,000

Testing of models 40,600

Fees paid engineers and lawyers to prepare application 52,700

$182,300

As at 31 Dec 2012

Cost as at Jan 1, 2012 $182,300

Additional cost during the year:

Engineering activity necessary to advance. $84,500

$266,800

As at 31 Dec 2013

Cost as at Jan 1, 2013 $266,800

Additional cost during the year:

legal fee paid $40600

$307,400

As at 31 Dec 2014

Cost as at Jan 1, 2013 $307,400

Additional cost during the year:

Research aimed at modifying the design $41,600

$349,000

As at 31 Dec 2018

Cost as at Jan 1, 2018 $349,000

Additional cost during the year:

legal fee paid in unseccesful patent infrigement. $36,000

$385,000

Amortization for the year

Dec 31 2011 $182,300/17 = $10,724

Dec 31 2012

182,300/17 10,724

84,500/0 -

10,724

Dec 31 , 2013 :

$182,300/17 = $10,724

84,500/16 = 5,281

40,600/0 = -

16,005

Dec 31 2014 =

$182,300/17 = $10,724

84,500/16 = 5,281

40,600/16 = 2,538

41,600/17 = 2,447

20,990

Dec 31 2018 =

$182,300/17 = $10,724

84,500/16 = 5,281

40,600/16 = 2,538

41,600/17 = 2,447

36,000/0 = -

20,990

Explanation:

5 0

4 years ago

On December 31, Year 1, a publicly traded entity identified a tax position that will result in a $100,000 tax benefit that quali

Zielflug [23.3K]

Answer:

C $30,000

Explanation:

. A $30,000 result has a 35 percent chance of occurring, but the entity cumulatively has a 55 percent chance of receiving at least a $30,000 tax benefit. As a result, $30,000 is the appropriate amount to recognize.

7 0

3 years ago

Read 2 more answers