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Question - An entity has determined that its fine China Division is a cash generating unit. The entity calculated the value in use of the division to be P8,000,000. The assets of the CGU at carrying amount are as follows:
Building 5,000,000 Equipment 3,000,000
Inventory 2,000,000 Goodwill 1,000,000
The entity has also determined that the fair value less cost to sell of the building is P4,200,000. In recording the impairment loss, how much shall be credited to the Inventory account?
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betty whose tax rate is 33 is in the business of breeding and racing horses. except for the transactions below she has
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Layla has owned her home for 12 years and expects to live in it for 5 more years. She originally borrowed $200,000 at 5% for 30 years to buy the home. She still owes $130,000 on the loan. Interest rates have fallen to 4%, and Layla is reconside..
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