Reference no: EM132474994
Question 1: Determine carrying amount and record impairment loss.
Cherry Technology purchased equipment on January 4, 201 S, for $250,000. The equipment had an estimated useful life of six years and a residual value of $10,000. The company has a December 31 year end and uses straight-line depreciation On December 31, 2017, the company tests for impairment and determines that the equipment's recoverable amount is $100,000.
Question 2: Calculate the equipment's carrying amount at December 31, 2017 (after recording the annual depreciation].
Question 3: Record the impairment loss. Calculate revised depreciation.
On January 2, 2017, Ares Enterprises reports balances in the Equipment account of $32,000 and Accumulated Depreciation-Equipment account of $9,000. The equipment had an original residual value of $2,000 and a 10-year useful life. Ares uses straight-line depreciation for equipment. On this date, the company decides that the equipment has a remaining useful life of only four years with the same residual value.
Question 4: Calculate the revised annual depreciation Record disposal by retirement.
On Januaryr 3, 2017, Ruiz Company retires equipment, which cost $25,700. No residual value is received.
Question 5: Prepare journal entries to record the transaction if accumulated depreciation is also $25,200 on this equipment. Ruiz has a December 31 ?scal year end.
|
Concepts of societal marketing and sustainability
: Define and discuss the marketing concept along with the concepts of societal marketing and sustainability. Do the latter two fit well with the marketing concept
|
|
Execute an effective marketing strategy
: How can a company's marketing organization ensure that it is able to identify newly emerging competitors in time to plan and execute an effective marketing
|
|
FNSACC511 Financial and Business Performance Information
: FNSACC511 Provide Financial and Business Performance Information Assignment Help and Solution, Open Colleges, Australia.
|
|
Importance of branding being a shared organizational value
: As CMO of an organization, how do you explain to other leaders within the organization, the importance of branding being a shared organizational value?
|
|
Determine carrying amount and record impairment loss
: Determine carrying amount and record impairment loss. Calculate the equipment's carrying amount at December 31, 2017 (after recording the annual depreciation)
|
|
Charge of launching foreign sales and manufacturing
: If you were the new global marketing management hire at Columbia Sportswear in charge of launching foreign sales and manufacturing, what would be your strategy
|
|
Describe two recent purchases you have made
: Did they affect the desired state, the actual state, or both? What role does problem recognition play in the consumer-decision making process?
|
|
Calculate and determine contribution margin per unit
: Calculate Contribution margin per unit, Contribution margin ratio, Required units to break even, Required sales dollars to break even.
|
|
Brand extension as a growth strategy
: A brand portfolio is the set of all brands and brand lines an organisation offers for sale in a particular category or market segment. Discuss the factors
|