Reference no: EM132752501
JYD Corporation plans to dispose of a group of net assets that form part of a disposal group. The net assets at December 31, 2020 are:
Carrying Value at December 31, 2020
Goodwill ----------------------------------------------------------------------- 6,000,000
Property, Plant and Equipment ---------------------------------------------18,000,000
Inventory------------------------------------------------------------------------10,000,000
Financial Assets (profit of P2,000,000 recognized in equity) ---------7,000,000
Financial liabilities ------------------------------------------------------------( 4,000,000)
Total ----------------------------------------------------------------------------P37,000,000
Before the date of reclassification, the property, plant and equipment had a fair value of P16,000,000, the inventory has a net realizable value of P9,000,000. The fair value less costs to sell of the disposal group is P25,000,000.
Problem 1: What amount of the impairment loss is allocated to the inventory?
Group of answer choices
Option 1: P6,000,000
Option 2: P9,000,000
Option 3: P3,000,000
Option 4: None
|
Explain what purpose does federal trade commission serve
: Explain What purpose does the Federal Trade Commission serve and why must business owners be educated on Federal Trade Commission practices?
|
|
Find what amount should be disclosed separately in equity
: JYD Corporation plans to dispose of a group, what amount should be disclosed separately in equity relating to non-current asset held for sale?
|
|
Find what amount of liability directly associated
: Find what amount of liability directly associated with the disposal group should be presented in the liability section of the statement of financial position?
|
|
Find what amount should be presented as the carrying value
: JYD Corporation plans to dispose of a group of net assets, what amount should be presented as the carrying value of the disposal group?
|
|
Find what amount of impairment loss allocated to inventory
: The fair value less costs to sell of the disposal group is P25,000,000. What amount of the impairment loss is allocated to the inventory?
|
|
What amount of impairment loss is allocated for jyd corp
: Before the date of reclassification, the property, plant and equipment. What amount of the impairment loss is allocated to the goodwill?
|
|
What is Stephanie interest expense deduction
: Stephanie, a taxpayer in the 24% marginal tax bracket, borrows $100,000 at 7% interest to invest, What is Stephanie interest expense deduction
|
|
What amount of the impairment loss is allocated to the plant
: Financial Assets (profit of P2,000,000 recognized in equity), What amount of the impairment loss is allocated to the property, plant, and equipment?
|
|
Show the relevant journal entries for Morty Ltd
: According to AASB 15 Revenue, explain when to recognise the revenue from these transactions by Morty Ltd and Also show relevant journal entries for Morty Ltd
|