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The rate of return expected by the market on this machine is 8%. Arrow Ltd acquired a machine for $250 000 on 1 July 2019. It depreciated the asset at 10% p.a. on a straight-line basis. On 30 June 2021, Arrow Ltd conducted an impairment test on the asset. It determined that the asset could be sold to other entities for $154 000 with costs of disposal of $2000. Management expect to use the machine for the next four years with expected cash flows from use of the machine being:
Problem 1: Assess whether the machine is impaired. If necessary, provide the appropriate journal entry to recognise any impairment loss.
Calculate the book value of a three-year-old machine that cost $225,000, has an estimated residual value of $15,000, and has an estimated useful life of 15,000 machine hours. The company uses units-of-production depreciation and ran the machine 3,000..
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A company purchases inventory during the year in four batches, with unit and price amounts shown below: Batch 1 – 9,500 units @ $2.10 per unit Batch 2 – 4,300 units @ $2.08 per unit Batch 3 – 3,600 units @ $2.04 per unit Batch 4 – 7,200 units @ $2.01..
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