Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
ABC Ltd has determined that one of its cash-generating units (CGUs) has sustained an impairment loss of $50 000. The carrying amount of the assets within the CGU are as follows.
$Asset 1 150 000Asset 2 200 000Asset 3 50 000Total 400 000 The estimated fair value less costs of disposal of Asset 2 is $190 000, which is greater than its value in use.
Required
Problem 1: In accordance with IAS 16 Property, Plant and Equipment and IAS 36 Impairment of Assets, calculate the amount of impairment loss allocated to the three assets, and the carrying amounts of the assets after the allocation. Prepare relevant journal entries. Show workings and calculations.
Can only be resolved by a zoning ordinance restricting high-rise buildings. Should be resolved by a government fine for the builder of the high-rise
a. Tao Co. receives $10,000 cash in advance for 4 months of legal services on October 1, 2013, and records it by debiting Cash and crediting Unearned Revenue both for $10,000.
If converting $1,500,000 bonds into 12 shares of stock (with no par value) for each $1,000. What would be the value of the stock and what would be the journal entry for the conversion? (assuming book value method is used)
The Gray Company has a staff of 5 clerks in its general accounting department. 3 who work during the day perform sundry accounting tasks, the other 2 clerks who work in the evening are responsible for (1) collecting the cost data for the various jobs..
Assume that the company uses the weighted-average method. Find the equivalent units for June for the first process.
Do you feel it is really expense, or just additional stock offerings, by the corporation? For many years, accountants argued whether stock options
Prepare the necessary journal entries to correct errors and omissions in its financial statements for the year ended 30 June 2020.
Columbia Products Inc. has two divisions, Salem and Seaside. For the month ended March 31, Salem had sales and variable cost of $500,000 and $225,000, respectively, and Seaside had sales and variable costs of $800,000 and $475,000, respectively. Fixe..
If the partnership agreement specifies salaries to partners, interest on partners' capital, and the remainder on a fixed ratio, and partnership net income is not sufficient to cover both salaries and interest,
Decision to Use Transfer Prices ACCOUNTING CONNECTION The production process at Premium Castings includes eight processes, each of which is currently treated as a cost center with a specific set of operations to perform on each casting produced. Foll..
What are closing entries and also state which are permanent and temporary also detail that how temporary accounts closed and to which accounts
Differentiate or compare similarities of the two classification of leases, finance lease and operating lease. Explain with a short answer.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd