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Question - Covid Co. purchased four convenience store buildings on January 1, 2013 for a total of P22,000,000. The buildings have been depreciated using the straight-line method with a 20-year useful life and 5% residual value. As of January 1, 2020, Covid Co. has converted the buildings into Internet Learning Centers. Because of the change in the use of the buildings, Covid Co is evaluating the buildings for possible impairment. Covid estimates that the buildings have a remaining useful life of 10 years and that their residual value will be zero and net cash inflow from each building will be P500,000 per year and appropriate discount rate that reflects current market assessments of time value of money is 12%. Present value of annuity or the discount rate for 10 periods is 5.65. The fair value less cost to sell of the four buildings is not clearly determinable.
Required - What amount of impairment loss, if any, should be recognized?
a. What is the level of accounts receivable needed to support this sales expansion? b. What would be Collins's incremental aftertax return on investment?
jeter co. uses a perpetual inventory system and both an accounts receivable and an accounts payable subsidiary ledger.
The data below appear in the five - year summary of a major international company. A business combination with another major manufacturer took place in 2003. The term turnover in this financial data is a synonym for revenue.
a building was purchased on january 1 1998 for 240000 and straight line depreciation method was used. it was estimated
James Corporation's actual operating income for the current year is $25,000. What is the sales volume variance for operating income
The company is subject to a 25% income tax rate. Compute the dollar sales to earn the target after-tax net income
Calculate the workbook cost in total and per student, assuming that 18, 20, or 22 students attempt to attend the course
Explain the differences between artistic-related intangible assets and contract-related intangible assets.
The Genesis Energy operations management team was excited to understand the various options for securing financing to fund the rapid growth plans.
Harvard Company reports pre-tax financial income of $100,000 for 2010. Compute taxable income and income taxes payable for 2010
Entries for Held-to-Maturity Securities on January 1, 2009, Roosevelt Company purchased 12% bonds, having a maturity value of $500,000, for $537,907.40. The bonds provide the bondholders with a 10% yield.
Journalize Showcase Co.'s entries for (a) the sale, including the cost of the merchandise sold, (b) the credit memo, including the cost of the returned merchandise.
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