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!
Bright Company uses special equipment in its business. The equipment was purchased in January 2014 for $10 000 000 and had an estimated useful life of 10 years with a salvage value of $150 000. At December 31, 2016, new technology was introduced that would accelerate the obsolescence of the equipment. It is estimated as expected future net cash flows on the equipment will be $6 750 000 and that the fair value of the equipment is $6 300 000. Bright Company intends to continue using the equipment, but it is estimated that the remaining useful life is 4 years with no salvage value. Gold Company uses straight-line depreciation.
Instructions:
Problem 1: Prepare the journal entry (if any) to record the impairment at 31 December, 2016
Problem 2: Prepare the journal entry for depreciation of the equipment at 31 December, 2017
Problem 3: The fair value of the equipment at 31 December, 2017, is estimated to be $5 062 500. Prepare the journal entry if any required
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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