Assume that X Company performs an impairment test for its equipment. The carrying amount of X company's equipment
is SAR 200,000, its fair value less costs to sell is SAR 190,000, and its value-in-use is SAR 170,000. What is the journal entry
to record impairment loss?
O a. Dr. Loss on impairment 30,000, Cr. accumulated depreciation 30,000.
O b. Dr. loss on impairment
10,000, Cr. accumulated depreciation 10,000.
O c. Dr. accumulated depreciation 30,000, cr. Loss on impairment 30.000.
O d. Dr. Loss on impairment 30,000, equipment 30.000.
Answers
An impairment test is an accounting procedure used to calculate an asset's value when it has been reduced to less than its carrying value due to changed circumstances or an event. The value-in-use and the fair value of an asset less disposal expenses are compared in this test, and the lesser of these two figures is the asset's recoverable amount.
The carrying amount, less any accumulated depreciation and impairment losses, of the asset is compared to its recoverable amount. If the carrying amount is greater than the recoverable amount, the asset is impaired.The carrying value of X Company's equipment is SAR 200,000, and its fair value less costs to sell is SAR 190,000, whereas its value-in-use is SAR 170,000. Here, the carrying amount is greater than the recoverable amount, which is the fair value less selling expenses, indicating that the equipment is impaired, so an impairment loss should be recorded. The amount of impairment loss is determined by subtracting the recoverable amount from the carrying amount.In this case, the recoverable amount is SAR 190,000, and the carrying amount is SAR 200,000, so the impairment loss is SAR 10,000. The entry to record this loss on impairment is:Dr. Loss on impairment 10,000Cr. Accumulated depreciation 10,000This will be the journal entry to record impairment loss.
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Related Questions
application of nuclear energy
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Answer:
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Applications of nuclear energy
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Background: Nuclear energy can be used for various industrial applications, such as seawater desalination, hydrogen production, district heating or cooling, the extraction of tertiary oil resources and process heat applications such as cogeneration, coal to liquids conversion and assistance in the synthesis of chemical.
Which results are more likely for someone without personal finance skills? Select three options.
larger long-term credit or loan costs
less preparation for emergencies
fewer utility expenses
simple long-term investment strategies
increased long-term challenges
Answers
Answer:
1,2 & 5
Explanation:
Answer:
1, 2, 5
Explanation:
edge 2021
which type of firm invests in lean manufacturing programs in order to improve customer service levels for a given inventory investment?
Answers
make-to-stock type of firm invests in lean manufacturing programs in order to improve customer service levels for a given inventory investment.
A concept known as "lean manufacturing" aims to increase productivity while eliminating waste in industrial systems. Anything that buyers do not think adds value to and are not prepared to pay for is considered waste. Lean manufacturing has many advantages, some of which include shorter lead times, lower operational expenses, and better product quality.
Organizations from a variety of industries can enable the practice of lean manufacturing, commonly referred to as lean production or lean. Toyota, Intel, John Deere, Nike, and other well-known corporations all employ lean techniques. The strategy is still employed by numerous other businesses and is based on the Toyota Production System. A lean production system might be advantageous for businesses that use enterprise resource planning (ERP).
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Which of the following best describes a stock.
A) An incredibly stable investment that is always a safe investment
B) Is insured by the FDIC
C) Represents a share of ownership of a corporation
D) Only sold in the United States
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Answer: C
Explanation: A stock represents a share of ownership of a corporation. Stocks are bought by people so they can get money. If the company's stock they by it from goes well, they get money as well as interest. The answer is C. Hope this helps!
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Veterans' Preference Laws
A. give first choice to veterans before other job applicants
B. let veterans make most of the decisions for employees
C. provide veterans with more rights than other employees
D. supply additional pay for veterans at their place of employment
Answers
Answer: Answer:
A. give first choice to veterans before other job applicants
Explanation:
got a 100 :)
Answer:
A
Explanation:
:D
How many barrels of oil does the us export per day?.
Answers
Answer:
18.40 million
Explanation:
Also in 2020, the United States produced 2 about 18.40 million barrels of petroleum per day
Sell-side marketplaces are similar to the _________ model; _________ auctions are the key mechanism.
Answers
Answer:
B2C; forward
Explanation:
Sell-side marketplaces are similar to the B2C model; forward auctions are the key mechanism.
What is B2C model?The term "business-to-consumer" (B2C) refers to a model of commerce between a company and a single customer. Although B2C is a term that can refer to any form of direct-to-consumer selling, it is currently often used in relation to operating an online store, sometimes referred to as ecommerce.
Business to Consumer (B2C) enterprises are different from Business to Business (B2B) organizations in that they concentrate on selling their goods or services directly to consumers rather than other businesses. .
Shopify is one prominent B2C startup that has created a platform to let small sellers sell their goods online and reach a larger audience.
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Productivity, dependability, and responsibility are examples of skills that managers look for when determining who to promote within a company. Evaluate these three skills and another one or two that you come up with and explain how each skill could be helpful for an employee looking to get a promotion.
Answers
A dependable employee is an incredible asset to a company, as they make great coworkers, can be trusted to do their jobs. Productivity and responsibility are important aspects for the promotion.
What is a dependable employee?A dependable employee is a fantastic addition to a company because they make excellent teammates, can be trusted to execute their tasks without micromanagement, and empower others to accomplish their jobs effectively. As a result, being recognized as a dependable employee can help you stand out as an attractive prospect.
Every organization wants a productive employee who is responsible for the success of the organization as well as for his personal gains.
Being reliable implies doing what you say you'll do, when you say you'll do it. A reliable individual fosters trust by keeping himself/herself accountable and, if they lead others, their team members accountable as well.
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Susie asks you for investment advice as she's not sure if she should invest in a Roth IRA or a Traditional IRA She has a great job now and expects to have lower earnings and a lower marginal tax rate once she retires. Which would you recommend and why? Response should be a minimum of 100 words
Answers
Susie anticipates a pay cut and a regular IRA can be a wise retirement savings plan because she will have a lower marginal tax rate when she retires.
What are regular and Roth IRAs?
When you make an after-tax contribution to a Roth IRA, your money grows tax-free, and once you reach the age of 59 and a half, you can typically take your funds without incurring any taxes or penalties.
A Traditional IRA allows you to make pre-tax or post-tax contributions, and your funds grow tax-deferred until you are 59 and a half years old.
With a Roth IRA, you can make after-tax contributions, see your money grow tax-free, and generally take withdrawals after age 5912.
A Traditional IRA allows for pre- or post-tax contributions, tax-deferred growth of your funds, and current income tax on withdrawals.
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Megan received a loan of $7,700 at 4.50% compounded monthly. She settled the loan by making periodic payments at the end of every three months for 5 years, with the first payment made 4 years and 3 months from now. What was the size of the periodic payments?
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Megan received a loan of $7,700 at 4.50% compounded monthly. She settled the loan by making periodic payments at the end of every three months for 5 years, with the first payment made 4 years and 3 months from now.
What was the size of the periodic payments?
The periodic payment is $250.59.Megan received a loan of $7,700 at a 4.50% annual interest rate compounded monthly. To find the interest rate per period, divide it by 12. Thus, the interest rate is 0.045/12 = 0.00375.The length of time for the loan is five years, or 20 quarters.
The initial payment was made 4 years and 3 months before the loan ended. This is equal to 4.25 years or 17 quarters since there are four quarters in a year.
Since the loan is settled through periodic payments every three months, Megan will make a total of 20 – 17 = 3 × 4 = 12 payments.
To determine the size of the periodic payment, we will utilize the formula for annuities:
A = (Pmt x [1 – (1 + r)-n]) / r.
where A is the present value of the annuity or the amount of the loan, Pmt is the periodic payment, r is the interest rate per period, and n is the number of periods.
The present value of the annuity is equal to the loan amount, which is $7,700.
Substitute the known values into the formula to get:
$7,700 = (Pmt x [1 – (1 + 0.00375)-12]) / 0.00375.
Simplify and solve for Pmt:
Pmt = $250.59.
Answer: $250.59.
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According to the __________ plan of Castleton Industries, if expansion to new markets in Australia does not materialize, the company will strive for expansion in Asia
Answers
Contingency planning is when a company strive for expansion in Asia after failure of expansion in Australia.
What is Contingency planning?Contingency planning serves as a course of action designed to help an organization to adjust event that may or may not happen.
Contingency plans can be regarded as 'Plan B' or alternative action if things don't go as planned.
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_______ will help you maintain good credit.
Answers
Paying your Bills on Time will help you to maintain good credit.
Why do one need to Pay Bills on Time?The act if paying one's credit card bills and other forms of loans on time is very vital.
Mostly because late or missed payments could lead to a dip in one's credit score. If one is not totally concerned about missing a due date, it is better to have a form of automatic bill payment that can help one to stay on top of one's account payments.
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Answer: lowering your balances
Who is the group of people MOST likely to purchase a company's products?
O A.marketing mix
О в.target market
O C.primary audience
O D. advertising audience
Answers
Option B is correct.A target/goal market is a crew of customers with shared demographics who have been recognized as the most likely buyers of a company's product or service.
Why is goal market important?Having the right target market helps you decide where to find practicable purchasers who are looking for what you have to offer. If you have a target market, you know where to concentrate your advertising and marketing efforts and what to provide that is compelling and properly received.
For example, a children's toy may additionally have boys a while 9–11 as the target market and the boys' mother and father as the target audience. It may additionally also be defined as the consumer segment most likely to be influenced through an advertising campaign. The target market is also awesome from the buyer persona.
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Which strategy are you following if you are concentrating on serving a particular segment of customers better?
You are following the_______
strategy if you are concentrating on serving a particular segment of customers better.
Answers
Answer:
Targeting Strategy
Rudyard Corporation had 230,000 shares of common stock and 23,000 shares of 5%, $100 par convertible preferred stock outstanding during the year. Net income for the year was $530,000 and dividends were paid to both common and preferred shareholders. Rudyard's effective tax rate is 25%.
What is Rudyard's basic EPS?
Answers
Rudyard Corporation's basic EPS is approximately $2.25.
To calculate Rudyard Corporation's basic EPS, we need to determine the earnings available to common shareholders and divide it by the weighted average number of common shares outstanding.
Given that the net income for the year was $530,000 and preferred dividends of $11,500 were paid, the earnings available to common shareholders is $518,500.
The weighted average number of common shares outstanding is not provided in the given information, but it is a crucial factor in calculating EPS. It is typically calculated by taking the sum of the number of shares outstanding for each period and dividing it by the number of periods.
Once the weighted average number of common shares outstanding is determined, we can calculate the basic EPS by dividing the earnings available to common shareholders by the weighted average number of common shares.
Therefore, Rudyard Corporation's basic EPS is approximately $2.25, which indicates the earnings generated per common share outstanding during the year. This measure helps investors and analysts assess the profitability and financial performance of the company on a per-share basis.
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Prompt What is an economy?
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Answer:
An economy is the large set of inter-related production and consumption activities that aid in determining how scarce resources are allocated.
3. Describe through the use of T accounts the birth & growth of the Wahoo Bank
Answers
Answer:
Describe through the use of T accounts the birth & growth of the Wahoo Bank is explained below in detailed explanation.
Explanation:
Equipoise T-accounts is one of the more complex and mind gobbling something for many accounting scholars. In this lesson, we're going to discover specifically how to balance a T-account. Surely, by the time you've completed this exercise, this action will be more relaxed for you than ever since. The last portion of the T-account that we require to meet is its amount. An account’s amount is the value of that object at a precise point in time.
In a T-account, we determine the balance of the matter at the origin of the term (month or year) and the conclusion of the period.
action by employees to gain support for unionization are called what
Answers
Actions by employees to gain support for unionization are called union organizing or unionization campaigns.
Union organising and unionisation campaigns are terms used to describe employee actions intended to win support for unionisation. These campaigns may comprise a range of actions, including the distribution of informative materials, discussions about unionisation with coworkers, and garnering signatures for union authorisation cards.
Other activities can include meeting with management to address labour issues as well as participating in collective actions like picketing or work stoppages. Building worker unity and securing a collective bargaining agreement with management to raise salaries and conditions at work are the ultimate goals of these initiatives.
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5 merit goods and their functions they serve for you
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Answer:
A merit good is a good which when consumed provides external benefits, although these may not be fully recognised – hence the good is under-consumed. Examples include education and healthcare. As can be seen, when a merit good is consumed it generates positive externalities.
The market for merit goods is an example of an incomplete market. Merit goods have two basic characteristics: Firstly, unlike a private good, the net private benefit to the consumer is not fully recognised at the time of consumption.
Merit goods are included education, welfare services, health care, housing, refuse collection fire protection, and public parks.
What is Merit good?
In distinction to pristine public goods, merit goods could be, and are, delivered through the market, but not necessarily insufficient excesses to maximize social interest.
A merit good is good that when consumed supplies external benefits, although these may not be fully recognized.
Therefore, the good is under-consumed. Illustrations contain education and healthcare. As can be glimpsed, when merit good is consumed it provokes positive externalities.
The market for merit goods is an illustration of an insufficient market. Merit goods have two basic characteristics: Firstly, unlike a private good, the net private concession to the consumer is not completely recognized at the time of consumption.
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What expenses do you need to budget for if you choose to buy a home? Check all that apply.
A. a mortgage payment
B. a rent payment
C. homeowners insurance
D. renters insurance
E. property taxes
F. a security deposit
G. a down payment
H. utility payments
Answers
If you choose to buy a home, you will need to budget for the following expenses:
A mortgage payment (A): This is the monthly payment you make to the lender to pay off the loan you took out to purchase the home. It typically includes both the principal (the amount you borrowed) and the interest (a fee charged by the lender for lending you the money).Homeowners insurance (C): This insurance protects your home and belongings in the event of damage from natural disasters, accidents, or theft. It is typically required by mortgage lenders and is usually paid for annually or semi-annually.Property taxes (E): These are taxes that you pay to the government based on the value of your property. The tax rate and frequency of payment vary depending on where you live.A down payment (G): This is the initial payment you make towards the purchase of your home, which is typically a percentage of the home's purchase price. The larger the down payment, the lower your monthly mortgage payment will be.Utility payments (H): These are payments for services such as electricity, water, gas, and internet, which you will need to pay monthly.You do not need to budget for a rent payment or renters insurance if you are buying a home. However, if you are renting a home or apartment, you will need to budget for rent payments and renters insurance. A security deposit may also be required when renting, which is typically a one-time payment equal to one month's rent.
What expenses do you need to budget for if you choose to buy a home? Check all that apply.
✔️ a mortgage payment
❌ a rent payment
✔️ homeowners insurance❌ renters insurance
✔️ property taxes❌ a security deposit
✔️ a down payment✔️ utility paymentsI Took Assignment And Have a Nice Day.
��Journalists are gatekeepers of information��. Do you agree? Does this gatekeeping obstruct the free flow of information? Support your answer with arguments.
Answers
Journalists are gatekeepers of information. They only obstruct it if it is reported with bias or censored. Otherwise, the media and press report on information, and there is a free flow.
Debbie owns a small bakery and can hire workers to produce snack cakes selling in a competitive output market at $10 each. If Debbie must pay each worker a competitive market wage of $40 per day, how many workers will she hire to maximize profit
Answers
Based on the selling price and market wage rate, the number of workers she should hire to maximize profit is 5 workers.
What is the profit maximizing quantity?This is the point where the Marginal revenue will be equal to the marginal cost which is the wage rate of $40 in this scenario.
Revenue at various labor quantities4 workers: 5 workers
= 21 units x 10 per unit = 25 x 10
= $210 = $250
Marginal Revenue at 5 workers= Revenue at 5 workers - Revenue at 4 workers
= 250 - 210
= $40
This is equal to the marginal cost so 5 workers is the profit maximizing quantity.
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damaged merchandise that can be sold only at prices below cost should be valued at
Answers
The damaged merchandise that can be sold only at prices below cost should be valued at Net realizable value.
In accounting, the Net realizable value is basically the cash that a company expects to receive based on the eventual sale of an item after deducting any associated costs.
In the case, the damage merchandise can be sold, but it will be at lower price compared to the normal price.
Therefore, the valuation method of Net realizable value is what the damaged merchandise should be valued at.
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Which of the following government agencies regulates financial markets? a. osha b. the irs c. the faa d. the ots
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OTS is an agreement in which a defaulting borrower agrees to pay a portion of their debt, it regulates Financial markets.
What exactly is this OTS?OTS is an agreement in which a defaulting borrower agrees to pay a portion of their debt in order to prevent banks from pursuing legal action against them.
Financial markets are regulated by OTS government agencies.
Therefore, option d. explains the OTS.
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Answer:
D
Explanation:
The goal of an economist who formulates new theories is to?
Answers
An economist's purpose in developing new theories is to better understand and explain economic phenomena, make predictions about future economic events and trends.
and give direction for policymaking and decision making in a variety of domains such as firms, governments, and households. Economists seek to advance our understanding of the economy and how it works by developing new theories and models. These theories aid in explaining the market behavior of individuals, businesses, and governments, as well as how they interact with one another. Economists can help guide decision-making and policy development in areas such as business strategy, government spending and taxation, and household budgeting by making predictions about future economic events and trends. The purpose of developing new theories is to ultimately increase our understanding.
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unlike a storage warehouse, a distribution center is primarily for?
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A distribution center is primarily for efficiently managing and distributing goods to various destinations.
Unlike a storage warehouse, a distribution center serves as a centralized facility focused on managing the flow of goods throughout the supply chain. It handles activities such as receiving, sorting, storing, and dispatching goods to fulfill customer orders and meet demand. Distribution centers employ advanced technologies and optimized processes to ensure efficient inventory management, quick order processing, and timely shipment. By serving as a strategic hub, distribution centers play a crucial role in enhancing operational efficiency, reducing order fulfillment time, and facilitating the smooth distribution of goods to different destinations, such as retail stores, wholesalers, or end customers.
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The economy has an annual inflation rate of 3. 5 percent. It will take approximately how many years for the price level to double?.
Answers
Answer:
the answer is 20 years
Which parts of your business are not profitable?
Answers
Answer:
A non-profit business is a tax-exempt organization formed for religious, charitable, literary, artistic, scientific, or educational purposes. Its shareholders or trustees do not benefit financially. Any money earned must be retained by the organization and used for its own expenses, operations, and programs.
Explanation:
Answer: The activities an organization performs in order to fulfil its CSR responsibilities are not profitable.
Explanation: Every company undertakes certain steps in order to fulfill its CSR (Corporate Social Responsibility). They include donations to NGOs, building safe and healthy work environments for its employees, etc. Even though they don't render any profits to the organization, they prove to be beneficial while making a brand image and brand name. These bring in goodwill for the company.
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What is the answer?? I need help
Answers
Economic classes
Explanation:
they are all fit within the category about what the main question is
how does shifting the supply and demand curves at the same time affect price and quantity equilibrium
Answers
Shifting the supply and demand curves at the same time can have varying effects on the price and quantity equilibrium, depending on the magnitude and direction of the shifts.
If both curves shift to the right (i.e., an increase in both supply and demand), the equilibrium quantity will increase, while the equilibrium price may either increase, decrease, or remain unchanged, depending on the relative magnitude of the shifts. If the increase in supply is greater than the increase in demand, the equilibrium price will decrease, while if the increase in demand is greater than the increase in supply, the equilibrium price will increase.
Conversely, if both curves shift to the left (i.e., a decrease in both supply and demand), the equilibrium quantity will decrease, while the equilibrium price may either increase, decrease, or remain unchanged, depending on the relative magnitude of the shifts.
If the supply curve shifts to the right and the demand curve shifts to the left (i.e., an increase in supply and a decrease in demand), the equilibrium quantity will increase, while the equilibrium price will decrease. Conversely, if the supply curve shifts to the left and the demand curve shifts to the right (i.e., a decrease in supply and an increase in demand), the equilibrium quantity will decrease, while the equilibrium price will increase.
In summary, shifting both the supply and demand curves at the same time can affect the price and quantity equilibrium in various ways, depending on the direction and magnitude of the shifts.
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