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On 1 January 20X1 Court Co purchased an asset for $100 000 with a useful life of 10 years. The asset is depreciated on a straight-line basis. On 31 December 20X2, due to some impairment indicators an impairment review was carried out and the recoverable amount of the asset was estimated to be $50 000. An impairment loss of $30 000 was recognised. The total life of the asset remained unchanged.
Problem 1: At 31 December 20X4 the recoverable amount of the asset was estimated to be $70 000. What amount is recognised as income in the statement of profit or loss in respect of the reversal of the impairment of this asset in the year ended 31 December 20X4?
A $20 000
B $22 500
C $32 500
D $70 000
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Solve the impairment loss of the cash-generating unit as at 31 December 2017 in accordance with IAS 36. Journal entries are not required
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Suppose investors believe the stock will sell for $71 at year-end. Calculate the opportunity cost of capital. Is the stock a good or bad buy?
Baylor Balloon Bouquets incurred the following monthly costs.- Using the formy = mx + b, estimate the cost formula for each cost incurred by Baylor Balloon Bouquets.
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At year-end 2013, Wallace Landscaping’s total assets were $1.7 million and its accounts payable were $420,000. Sales, which in 2013 were $2.0 million, are expected to increase by 30% in 2014. What was Wallace's total long-term debt in 2013? Round you..
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The principle that any personal transactions undertaken by the owner of an entity must be kept separate from the transactions of the business is known as
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