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PROBLEM - ABC Corporation bought an equipment with a total cost of P4,000,000 on Jan. 1, 2016. It was depreciated using the straight-line method over 20 years with a salvage value of P400,000.
On Jan. 1, 2020, there is a foreseen decrease in the useful life of the equipment to only 8 remaining years. Hence, the asset is being tested for impairment. The current fair value less cost to sell is P600,000 while the salvage value at the end of the useful life is P400,000. Annual net operating cash flows is foreseen to be at P200,000 per year. The effective interest rate to be used for impairment testing is 6%. How much is the impairment loss?
During March 2019, Annapolis Corporation recorded $40,800 of costs related to factory overhead. Alpha's overhead application rate is based on direct labor hours
If a company's tax rate increases but the YTM of its noncallable bonds remains the same, the after-tax cost of its debt will fall. Why do you think this is a correct statement?
Erin purchased stock in JKL Corporation several years ago for $8,750. What is Erin's realized gain or loss? What is Erin's recognized gain or loss
Explain how does Starload test impairment of its vehicle and Prepare the essential journal entry relating to this matter
Identify and explain on any THREE (3) strong factors which influences Internal Control Systems in any business operations
Determine the diluted earnings per share to be reported by the company in 2018 assuming preferred shares were cumulative
The net periodic pension cost reported in the income statement for 2011 would be
Legend Service Center just purchased an automobile hoist for $33,600. The hoist has an 8-year life and an estimated salvage value of $3,290.
Global Issues for the Finance Professional - PAM100 - Critically analyse the business case for Corporate Social Responsibility. Justify any arguments you make.
you are working on saving for retirement. you will reach full retirement age in 20 years and you can invest 5000 each
ABC Inc. has the following stockholders' equity on January 1, 2013: Retained earnings $6,000,000. Prepare the appropriate journal entries for each transaction
During the last year,Global satellitle corp. generated $1053 million in cash flow. What was the firms cash flow due to financing activities in second year?
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