Reference no: EM133078442
Question - Sunwise Real Estate Investment Trust (Sunwise) owns commercial real estate across Canada. Charles, Sunwise's controller, is preparing its financial statements for its December 31, 2020, year end. Charles has received information from the CFO that one of Sunwise's strip malls may be impaired. The strip mall is located next to the town hall, which has been the centre of citizen protests for over six months. Almost all of the tenants have moved out of the mall and the CFO noted that recent properties sold nearby have shown that prices have decreased dramatically.
Information on the building is provided below:
Building cost $2,200,000
Accumulated depreciation (950,000)
Carrying value $1,250,000
Undiscounted future cash flows from the building $800,000
Discounted cash flows from the building 660,000
Estimate fair value 420,000
Estimated costs of disposal 25,000
Required - What is the impairment that Sunwise should record in 2020 for the strip mall, assuming Sunwise reports under IFRS?
|
Calculate operating profits for container
: Calculate operating profits for Container, Mixing and Amazon Beverages for volumes of 500,000, 1,000,000 and 1,500,000 cases
|
|
Cyber intelligence techniques
: Do you agree with the Director of National Intelligence that Cyber issues have become as important as terrorism as an intelligence priority
|
|
Calculate the depreciation expense for December
: The salvage value is $1000 and the useful life is 5 years. Calculate the depreciation expense for December 31, 2014 using the straight-line method
|
|
Calculate the effective after tax WACC
: The current cum interest market value per K100 unit is K103 and K105 for the 6% and 9 % debentures respectively. Calculate the effective after tax WACC
|
|
What is the impairment that Sunwise should record
: What is the impairment that Sunwise should record in 2020 for the strip mall, assuming Sunwise reports under IFRS
|
|
Make the journal entry to recognize the billings made
: December 02 - The agency prepared the following billings for the month of November 2021: Make the journal entry to recognize the billings made
|
|
Explain the subordinate-level descriptions
: Think of an area where you have more knowledge than the average person...when would you be most likely to use the subordinate-level descriptions?
|
|
Kind of justice covers the collection of taxes
: What kind of justice covers the collection of taxes by the government from its citizens? Explain your answer
|
|
How much is the carrying value of ending inventory
: During the year, 8,000 units were produced, and 7,800 units were sold. How much is the carrying value of ending inventory under variable costing
|