Determine the recoverable amount of the land

Assignment Help Management Theories
Reference no: EM131606695

Question: At 30 June 2017, an entity holds a block of land from which it generates revenue by leasing it to agricultural enterprises. The land has a carrying amount of $2.5 million. An independent market appraisal has valued the land at $2.36 million but costs to dispose of the land are estimated at $100 000. The value in use of land is determined to be $2.33 million.

Required: 1. Determine the recoverable amount of the land

2. Prepare the appropriate journal entry to record any impairment loss that should be recognised. Suppose now that this same block of land was carried under the revaluation model.

3. Prepare the journal entry to record any necessary adjustment assuming there had been no prior revaluations.

4. Prepare the journal entry to record any necessary adjustment assuming there had been a prior revaluation increase of $200 000.

5. Prepare the journal entry to record any necessary adjustment assuming there had been a prior revaluation increase of $120 000.

Reference no: EM131606695

Questions Cloud

Explain why they would be effective : Explain why they would be effective. Include specific examples and appropriate citations/support from the literature for your findings.
Habit formation explains how to make goals that stick : The Science of Habit Formation Explains How To Make Goals That Stick
How are inclusion and co-teaching working in your district : DISCUSSION BOARD- How are inclusion and co-teaching working in your state or district? How and why are they working or not working?
Deciding on how to evaluate children''s learning : Deciding on how to evaluate children's learning, When a teacher obtains books on the subject of a thematic unit
Determine the recoverable amount of the land : At 30 June 2017, an entity holds a block of land from which it generates revenue by leasing it to agricultural enterprises.
Discuss anxiety disorders : Evidence-Based Practices, offers one of the listed evidence-based practices
Methods of conducting employee performance appraisals : During the past few weeks, we have learned that there are various methods of conducting employee performance appraisals
Explain how the artist makes use of these four cues : Explain how the artist makes use of these four cues - explain how the physiology of the eye helps you to see the four cues.
Methods of internationalization-licensing and exporting : Compare and contrast the four basic methods of internationalization: licensing, exporting, joint ventures, and wholly owned subsidiaries.

Reviews

Write a Review

Management Theories Questions & Answers

  Learning in action

Learning contract proposal that will form the basis of your learning contract report.

  Change is the only constant

"Change is the only constant " Evaluate the different types of change that have occurred in Sony.

  How do advertisers try to use group influence

How do advertisers try to use group influence?  Will you find any specific examples and explain the relevant theory of group behavior and influence?

  Case study:saving sony

You have been appointed by Sony as a consultant on change management. Advise Sony on how they could implement the change by using the various theories of change you have learnt.

  How the stock market works

The purpose of this project is to help you to gain an understanding of how the stock market works and of the relationship between theory and practice.

  Find the optimal production quantities

Find not only the optimal production quantities, but also the optimal total cost.

  Describe the management process

Describe the management process and identify the skills required to manage business organizations.

  Case study : bert''s bonsai and aquatic sport museum

Case Study : Bert's Bonsai and Aquatic Sport Museum Prepare a knowledge management system.

  Knowledge management techniques

Demonstrate understanding of the many-sided nature of knowledge management

  Theory of transtheoretical model

Demonstrate understanding of the many-sided nature of knowledge management

  Write a paper on historical trends of management

Write a paper on Historical Trends of Management.

  Theory of reasoned action

Theory of Planned Behavior and Integrated Behaviors Model

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd