User Account

All Pages

What is the impairment allocated to land

Assignment Help Financial Accounting
Reference no: EM132894005

The following information relates to Bonvey Limited on 31 December 2020.

Asset

Carrying Amount

Inventory 200,000

Cash 100,000

Land 1,000,000

Vehicles 300,000

Accounts Receivable 100, 000

Patent 200,000

Goodwill 100,000

These assets have a combined value in use of $1,800,000. The value in exchange was noted to be $1,500,000. Inventory was recorded at lower of cost and net realisable value. The patent had an indefinite useful life. Vehicle was depreciated at 10% per annum. Land had a value in use of $940, 000 and the related value in exchange was $935, 000.

Problem 1: What is the impairment allocated to land?

Reference no: EM132894005

Questions Cloud

Compute inventory turnover for each company : The cost of goods sold computations for Cullumber Company and Pharoah Company are shown below. Compute inventory turnover for each company
What ways can a christian church help the local community : Can you please help me to write essay talk about: In what ways can a Christian church help the local community?
What is the role of repetition in virtue ethics : What is the inherent value upheld in virtue ethics and how is it achieved?
What type of error could you be making : What type of error could you be making in the context of the above question? Can we conclude process B more likely to differ from industry standards
What is the impairment allocated to land : What is the impairment allocated to land? Inventory was recorded at lower of cost and net realisable value. The patent had an indefinite useful life.
Calculate the total market value of the firm : Calculate the total market value of firm. Calculate the weighted average cost of capital (WACC) of AOI Ltd based on the market values of the sources of capital.
Understand the decline of microsoft early success : Talk about and understand the decline of Microsoft's early success (focus on the years between 2000-2015) and evaluate how hard it is for Microsoft to different
Introduction to management science : It was solved by hand previously. I am trying to get the concept by using one of the above programs.
Compute resale costs to be capitalized to ending inventory : Sugarcane Company uses FIFO. Its purchases in ending inventory total $40 million. Compute the total resale costs to be capitalized to ending inventory

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

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

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.

  Financial accounting assignment

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

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

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 frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

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

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd