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Question -
a. Lacey Limited expected future cash flows from the use of plant as follows: End of Year 1 $14 000; End of Year 2 $15 000; End of Year 3 $12 000. The discount rate was determined as 9%. What is the value in use of the plant?
b. Parkes Limited recognised an impairment loss of $20 000 against a cash-generating unit containing the following assets: buildings $50 000; roads $110 000; equipment $40 000. What is the net carrying amount of the roads after allocation of the impairment loss?
c. Berry Pty Ltd has two cash generating units. CGU A had a carrying amount of $1700 and value in use of $1750. CGU B has a carrying amount of $1900 and a value in use of $1800. The carrying amount of the head office assets is $1400. CGU A and B utilise the head office services equally. What is the impairment loss for CGU A?
d. During 2021, Simpson Limited estimated that the carrying amount of goodwill was impaired by $20 000. In 2022, the company reassessed goodwill and determined that the goodwill initially acquired still existed. What is the appropriate accounting treatment in 2022? Explain.
If the company's ending finished goods inventory of $791,100 included $24,100 of direct labour costs, determine the inventory's material and overhead costs
using the following link as a guideline.. answer the following questions for wal-mart what was the total stockholders
Question - Rafael sold an asset to Jamal. What is Rafael's amount realized on the sale in each of the following alternative scenarios
1. Comment on the various ways that financial statement information is presented in this article on Nokia.
Assuming that the market price as of December 31, 2020, is $4.00, record the journal entry. (Credit account titles are automatically indented)
Explain the impact of the best practices you selected on the reporting process. Describe how the best practices align with the XBRL application.
Presented below are a number of accounting procedures and practices in Sanchez Corp. For each of such items, list the assumption, information characteristic, principle, or modifying convention that is violated.
Pierce Furnishings generated $2.0 million in sales during 2006, and its yearend total assets were $1.5 million. Also, at year-end 2006, current liabilities.
A marble contractor, issued for cash 400,000 shares of $10 par common stock at $18, What is total amount invested (total paid-in capital) by all stockholders
Required: What amount of cash and cash equivalents should be reported on the company's 2017 statement of financial position
a new manufacturing machine is expected to cost 286000 have an eight-year life and a 30000 salvage value. the machine
Annie, Inc. borrowed P1,000,000 from the bank on August 1, 2020. What was the total amount of cash that was paid
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