Determine the amount of impairment loss

Assignment Help Accounting Basics

Reference no: EM13146080

Wicker Corporation operates a manufacturing plant in California. Due to a change in business climate, an impairment test is deemed appropriate. Management has acquired the following information for the assets at the plant:

Cost $58,500,000

Accumulated depreciation $26,400,000

Estimated of total cash inflows (not discounted) from selling products made in California. $30,000,000.

The fair value of the California plant is estimated to be $24,000,000.

Determine the amount of impairment loss, if any.

Reference no: EM13146080

Questions Cloud

Find the expected freezing point of a water : Find the expected freezing point of a water solution that contains 268 g of aluminum nitrate, Al(NO3)3, in 8.50 kg of water.

Financial ratios of the most interest loan officer : Bob meets next month with a banker to secure a 60 day line of credit. He asks Mark which financial ratios will be of the most interest to the loan officer. How should Mark respond, any why?

What is the probability that sales for november will be less : What is the probability that his sales for November will be less than $100,000? Find the mean, variance, and standard deviation of the November sales.

Why does it make sense that the ask yield is reported : The asked yield is the investment yield corresponding to the dealer’s asked price. Why does it make sense that the ask yield is reported, rather than the bid yield? ?

Determine the amount of impairment loss : Estimated of total cash inflows (not discounted) from selling products made in California. $30,000,000. The fair value of the California plant is estimated to be $24,000,000. Determine the amount of impairment loss, if any.

Calculate the partial pressure (in atmospheres) of each gas : Assuming that the total pressure of the gases is 1.52 atm and that their mole ratio is 94 : 4.0 : 1.5 : 0.50, calculate the partial pressure (in atmospheres) of each gas.

Ratio scale compared to measurements on ordinal scale : What additional information is obtained from measurements on an interval scale compared to measurements on an ordinal scale?

What possible adverse selection and moral hazard problems : Without further restrictions or incentives, what possible adverse selection and moral hazard problems can you envision with this proposal?

What would be the total number of moles of h2so4 needed : Given the reaction: 2Al + 3H2SO4 -> 3H2 + Al2(SO4)3 what would be the total number of moles of H2SO4 needed to react completely with 5.0 moles of Al ?

User Account

All Pages