he management of Sprague Inc.was discussing whether certain equipment should be written off as a charge to current operations because of obsolescence. This equipment has a cost of $900,000 with depreciation to date of S500,000 as of December 31,2022.On December 31,2022,management projected the present value of future net cash flows from this equipment to be $300,000 and its fair value less cost of disposal to be S250,000.The company intends to use this equipment in the future.The remaining useful life of the equipment is four years Required: Prepare the journal entry (if any to record the impairment at December 31,2022
Answers
Based on the information provided, it appears that there is an impairment of the equipment due to obsolescence. To record the impairment at December 31, 2022, the following journal entry would be prepared:
Impairment Loss Account $200,000
Accumulated Depreciation $500,000
Equipment $700,000
Explanation:
The impairment loss is calculated as the excess of the carrying amount of the equipment over its recoverable amount. In this case, the recoverable amount is the higher of the present value of future net cash flows ($300,000) and the fair value less cost of disposal ($250,000). Since the present value of future net cash flows is higher, it is used as the recoverable amount.
The carrying amount of the equipment is calculated as the cost of the equipment ($900,000) minus the accumulated depreciation ($500,000). The carrying amount is $400,000.
Therefore, the impairment loss is the difference between the carrying amount ($400,000) and the recoverable amount ($300,000), which is $100,000. This amount is recorded as an expense in the Impairment Loss Account. The Accumulated Depreciation account is also reduced by $500,000 to reflect the total depreciation to date.
Finally, the Equipment account is decreased by the total impairment loss and the accumulated depreciation to properly reflect the impaired value of the equipment, which is $700,000 ($900,000 - $200,000).
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Related Questions
what two methods of depositing and withdrawing money are most convenient for you? why?
Answers
Hope this helps!! :)
There are two ways to deposit money into and withdraw money from a checking account: either visit a bank branch and deal with a bank teller there, or use the closest ATM you can find.
What is ATM ?One of the easiest and fastest ways to deposit money into your account is by using a credit card or debit card. These bank cards are widely used, therefore you are no longer need to open a separate account. Additionally, money is transferred to your account balance right away.
Customers of financial institutions can conduct financial activities, such as cash withdrawals, deposits, funds transfers, balance inquiries, or account information enquiries, at any time and anywhere using an automated teller machine (ATM), sometimes known as a cash machine in British English without having to speak to a bank employee directly.
Customers can use an ATM to access their bank deposit or credit accounts and perform a number of financial operations, including checking their balances, withdrawing cash, and transferring credit to and from mobile devices.
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In some arts, A/V technology, and communication careers, workers participate in apprenticeships. Why are
apprenticeships useful?
They allow experienced workers to learn new skills.
O They allow experienced workers to stay home from work.
O They allow new workers to get job experience.
They allow new workers to have paid benefits.
Answers
Answer: they allow new workers to get job experience
Explanation:
I know this from the back of my head and just took the test!
Please answer dis properly in your own words!!!
For every hour you practice basketball, you gain in skill and increase your chances of making the team. However, each hour you practice is an hour you could have spent working at an after-school job in a UAE company to save for a car or college or something else you want. Which will you do basketball practice or after-school job? Construct a decision making grid that analyzes the potential choices of attending practice at an after-school job. Which option would you choose. (the middle column might be amount of money earned, for example, based on an hourly wage.)
Answers
Answer:
Basketball 50/50 and job 50/50
Explanation:
a recent research signified the large health benefits of eating cooked tomatoes. holding other things constant, this will cause a. the demand curve for tomatoes to shift to the right b. the demand curve for tomatoes to shift to the left c. the supply curve for tomatoes to shift to the right d. the supply curve for tomatoes to shift to the left
Answers
The recent research highlighting the health benefits of eating cooked tomatoes would likely cause the demand curve for tomatoes to shift to the right. Option a is correct.
This is because the increased awareness of the health benefits would lead to a higher demand for tomatoes, as more people would be inclined to consume them. However, it would not affect the supply curve for tomatoes, as the supply is determined by factors such as production and availability, which are not directly influenced by health benefits.
Therefore, the correct answer would be option A, the demand curve for tomatoes would shift to the right.
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(1.04) This is an itemized summary of probable income and expenses for a given period.
oBank Account
oInterest bearing account
o Budget
o Lottery
Answers
Bipolar adjective scales are used with which survey instrument? A)store positioning. B)store-image testing. C)semantic differential. D)image analysis
Answers
The survey instrument that uses bipolar adjective scales is the semantic differential.
The semantic differential is a type of rating scale used in survey research to measure the attitudes or opinions of respondents towards a particular subject. It typically consists of a series of bipolar adjective pairs, such as "good-bad," "happy-sad," or "strong-weak," with a neutral point in the middle. Respondents are asked to rate the subject on each scale, indicating their degree of agreement or disagreement with each adjective.
Bipolar adjective scales are useful in the semantic differential because they provide a clear contrast between opposing attitudes or opinions, allowing for a more nuanced and detailed understanding of respondents' perceptions. They are often used in store-image testing, where researchers seek to understand how consumers perceive a particular retail brand or store. By asking respondents to rate the store on a range of bipolar adjective scales, researchers can gain insights into the store's strengths and weaknesses, as well as how it compares to competitors.
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This spreadsheet was created to track the money different employees earned in bonuses. The creator used
numbers and formulas to make the document efficient so that it could change as the bonus amounts changed.
What is most likely appears in the formula bar when B6 is selected?
A $total
B $112
C=MAX(B2:B5)
D =AVERAGE(B2:B5)
Answers
The formula that most likely appear in the formula bar of the spreadsheet when B6 is selected is =AVERAGE(B2:B5). Thus, the correct answer is option (D).
What is a spreadsheet?A spreadsheet is a computer programme for organizing, calculating, and storing data in tabular form. Spreadsheets were created as digital counterparts to traditional paper accounting spreadsheets.
The central tendency of a bunch of numbers in a statistical distribution—which is where the center is located—is measured by the AVERAGE function. The following are the top three central tendency measures:
Average: The arithmetic mean is determined by adding a collection of integers, dividing by their count, and then taking the result.The middle number in a set of numbers is called the median. The values of half the numbers are higher than the median while the values of the other half are lower than the median.The number that appears the most frequently among a set of numbers is the mode.Therefore, option D is correct.
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differentiate between primary and secondary wants
Answers
Answer:
Difference between primary needs and secondary needs: Primary needs: The primary needs are the basic requirements according to biological demands like oxygen for breathing, water for overcoming thirst, food for living and shelter. The secondary needs are the needs that remain even after the primary needs are satisfied
What ethical dilemmas do you think professionals in the marketing and advertising industry face? Explain.
Answers
Answer:
knowing how to play on emotions but also not make people feel like terrible human beings?
Explanation:
At what age can you start working?
Answers
Answer:
Explanation:
depends on where you live
Explanation:
It really depends on the jobs and requirements but you can USUALLY do small work like walking a dog or babysitting at 13-14
Duties performed by warehouse case study class 11
Answers
The duties performed by a warehouse include receiving, storing, and distributing goods and materials efficiently and safely.
What are the primary responsibilities of a warehouse?A warehouse plays a crucial role in the supply chain management of businesses. Its main responsibilities revolve around receiving, storing, and distributing goods and materials.
Upon receiving shipments, warehouse staff inspect the contents for quality and accuracy verifying that the delivered items match the corresponding documentation. They then organize and store the goods in designated locations within the warehouse ensuring efficient use of space
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the main objective of corporate management should be to: group of answer choices maximize the shareholders' wealth. maximize the firm's profits. maximize the number of shareholders. minimize the firm's costs.
Answers
Option (B) is the correct answer is the primary goal of corporate management.
The money that remains after a firm has paid all of its expenses is known as corporate profit. Top-line revenue is the total amount of money received by a company from the sale of goods or services during the reporting period. A business will pay its expenses out of revenue. The amount that remains after expenses are paid is referred to as the business's profit.
Additionally, the U.S. Bureau of Economic Analysis (BEA) releases a quarterly statistic known as "corporate profit" that compiles the net income of businesses as reported in the National Income and Product Accounts (NIPA). One of the primary sources of information on overall economic activity in the United States is the National Income and Product Accounts (NIPA), which are a component of the national accounts of the country.
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The complete question is:
The primary goal of corporate management should be to:
A. maximize the number of shareholders.
B maximize the firm's profits
C minimize the firm's costs.
D. maximize the shareholders' wealth
A vast global network that is made up of many smaller interconnected networks is known as
Answers
Answer:
The internet
Explanation:
Supply-side policies have proven that smaller government makes the economy more efficient. Select one: True False
Answers
Answer:
The given statement is "False".
Explanation:
Supply-side policies include those strategies that increase the economic ability of an enterprise as well as the ability to manufacture. To increase supply-side efficiency, there are also many specific steps that somehow an authority may undertake. Any strategy that increases the economic capacity of a nation's infrastructure and therefore its ability to transfer should be under the supply-side legal framework.True or False. The people in the stock exchange are paid a share from the investors’ profits.?
Answers
Answer:
false
Explanation:
Spam: Those obnoxious emails that come in trying to sell you something
Company Annual Report : Sent to all shareholders, tells how wonderful the company is
L.L Bean Catalog: The catalog for outdoor gear, apparel and footwear that is delivered to your home
Blue suits/ white shirts: Uniform of IBM personnel calling on customers,
Mr. Plaid Coat: He greets you as you walk into the car dealership
Budweiser Clydesdales: Spokeshorses for major beer brand commercials
McDonald's Monopoly: Game that the hamburger chain runs periodically
The Gecko and Cavemen: Promoters of a large insurance company
BUy one/get one free: Joseph A. Bank's deal of the day on suits
Going green: The newspaper runs a speical interest story about how a local business is becoming more environmentally friendly.
Promotional Mix Elements This activity is important because firms must communicate with customers for marketing to occur. Marketing managers use one more of the five promotional elements to communicate with customers: advertising, personal selling, public relations, sales pro and direct marketing. The goal of this exercise is to demonstrate your understanding of the differences between the five promotional elements. Roll over each promotional example to reveal its description, then drop the example onto the proper promotional category. - Spam - Company Annual Report - L.L.Bean Catalog - Blue suits/white shirts - Mr. Plaid Coat - Budweiser Clydesdales - McDonald's Monopoly - The Gecko and Cavemen - Buy one get one free - Going green Advertising Personal Selling Public Relations Sales Promotion Direct Marketing
Answers
The five promotional elements are advertising, personal selling, public relations, sales promotion, and direct marketing. Each element plays a role in communicating with customers and marketing a product or service.
1. Advertising: This involves promoting a product or service through various channels like TV, radio, print, or online ads. Examples include Budweiser Clydesdales, McDonald's Monopoly, and The Gecko and Cavemen.
2. Personal Selling: This involves direct interaction between a sales representative and a customer. Examples include Blue suits/white shirts (IBM personnel) and Mr. Plaid Coat (car dealership greeter).
3. Public Relations: This focuses on creating a positive image and maintaining good relationships with the public. Examples include Going Green (special interest story) and Company Annual Report.
4. Sales Promotion: This consists of offering incentives or discounts to encourage customers to purchase products or services. Examples include Buy one/get one free (Joseph A. Bank's deal) and McDonald's Monopoly.
5. Direct Marketing: This involves directly reaching out to customers through channels like email, mail, or telemarketing. Examples include Spam (obnoxious emails) and L.L.Bean Catalog (delivered to your home).
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The market system attracts inputs and focuses owners' attention on risk management by restricting business risk to which
Answers
There are different kinds of market. The market system attracts inputs and focuses owners' attention on risk management by restricting business risk two groups such as;
InvestorsOwnersWhat is the market system about?A market economy is known to be one type of economic system where supply and demand often monitors the economy, instead of the government intervention.
This system is known to be a composition of centralized government initiatives and also other decentralized decisions taken by companies.
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If+incomes+increase+by+10%+how+much+more+wine+will+people+buy?+(do+not+put+%+sign+in+your+answer.+round+to+1+decimal+place)
Answers
If incomes increase by 10%, people would be expected to buy approximately 0.5 (rounded to 1 decimal place) more units of wine.
To determine how much more wine people will buy if incomes increase by 10%, we need to use the income elasticity of demand for wine, which is given as 5.03.
Income elasticity measures the responsiveness of the quantity demanded of a good to a change in income.
The formula to calculate the percentage change in quantity demanded is:
Percentage change in quantity demanded = Income elasticity of demand × Percentage change in income
Given that the income increase is 10%, we can calculate the change in wine consumption:
Change in wine consumption = Income elasticity of demand × 10%
Change in wine consumption = 5.03 × 10% = 0.503 (rounded to 1 decimal place)
Therefore, if incomes increase by 10%, people would be expected to buy approximately 0.5 (rounded to 1 decimal place) more units of wine.
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COMPLETE QUESTION
Use the following data to answer the questions: Price elasticity of demand for beer =0.23 Cross-price elasticity of demand between beer & wine = 0.31 Cross-price elasticity of demand between beer & spirits - 0.15 Income elasticity of demand for beer = -0.09 (NOTE: negative) Income elasticity of demand for wine =5.03 Income elasticity of demand for spirits = 1.21 (NOTE: spirits - liquor) If incomes increase by 10% how much more wine will people buy? (DO NOT put % sign in your answer. Round to 1 decimal place)
You turn 39 today and plan to retire on your 50th birthday. On your 50th birthday, you will buy a sailboat and sail around the world. You figure that you will be able to invest $700 a month starting on your 40th birthday and ending one month prior to your 50th birthday. You project that the interest rate for your investment will be 0.17% per month. How much money will you have when you are 50 to buy a sailboat?
Answers
You turn 39 today and plan to retire on your 50th birthday. On your 50th birthday, you will buy a sailboat and sail around the world. You project that the interest rate for your investment will be 0.17% per month. When you turn 50, you will have approximately $98,638.34 to buy a sailboat.
To calculate the amount of money you will have when you turn 50, we need to determine the future value of the monthly investments.
You plan to invest $700 a month starting on your 40th birthday and ending one month prior to your 50th birthday. The interest rate for your investment is 0.17% per month.
Using the formula for calculating future value, we can compute the total amount by summing up the monthly investments and the compounded interest. The formula is:
FV = P * ((1 + r)^n - 1) / r
Where:
FV is the future value
P is the monthly investment amount
r is the monthly interest rate
n is the number of months
Plugging in the values, we have:
P = $700
r = 0.17% = 0.0017
n = 10 years * 12 months = 120 months
FV = $700 * ((1 + 0.0017)^120 - 1) / 0.0017 ≈ $98,638.34
Therefore, you will have approximately $98,638.34 saved when you turn 50, which you can use to buy a sailboat and fulfill your plan to sail around the world.
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Guys I love cricket and my favourite ipl team is KKR
Answers
Answer:
same pinch ☺️☺️..............
^^ have a good day
Akron, inc., owns all outstanding stock of toledo corporation. amortization expense of $15,000 per year for patented technology resulted from the original acquisition. for 2021, the companies had the following account balances:
akron toledo
sales $1,100,000 $600,000
cost of goods sold 500,000 400,000
operating expenses 400,000 220,000
investment income not given 0
dividends declared 80,000 30,000
intra-entity sales of $320,000 occurred during 2020 and again in 2021. this merchandise cost $240,000 each year. of the total transfers, $70,000 was still held on december 31, 2020, with $50,000 unsold on december 31, 2021. for consolidation purposes, does the direction of the transfers (upstream or downstream) affect the balances to be reported here?
Answers
The direction of the intra-entity transfers (upstream or downstream) does not affect the balances to be reported in the consolidated financial statements because they have already been eliminated in consolidation.
For consolidation purposes, the direction of the transfers (upstream or downstream) does not affect the balances to be reported here because the intra-entity sales and related cost of goods sold have already been eliminated in consolidation.
In the consolidation process, the parent company (Akron, Inc.) combines the financial statements of the subsidiary (Toledo Corporation) with its own financial statements to present a consolidated view of the overall financial position and performance of the combined entity.
The intra-entity sales and cost of goods sold are eliminated to avoid double-counting them in the consolidated financial statements. This means that only the sales and cost of goods sold to external customers are included in the consolidated financial statements.
Therefore, the balances to be reported in the consolidated financial statements are based on the external transactions of both companies with third parties, as well as any intercompany transactions that have not been eliminated in consolidation, such as the investment income received by Akron, Inc. from Toledo Corporation.
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A person who does not have capacity to contract may later contract.
A. accept
B. disaffirm
C. counteroffer
D. enforce
Answers
Answer:
B.) Disaffirm
Explanation:
I just took it and got it correct
Answer:
B
Explanation: I just took it
Which skill do you feel is the most important? Why? (2-4 sentences)
Answers
Answer:I do not think there is a subject less important than another.
Explanation: I say this because its true, and that you need to know math to have a job. You ned to know how to read so you can know what to type. And you need to know science because its amazballs!!
Q1: Class Diagram The government of Pakistan has decided to develop a "online meat store" in response to a rising number of complaints about the quality of Pakistan's red and white meat. In this method, Pakistan's government can guarantee the quality of meat while simultaneously ensuring that the meat is Halal and safe for consumption. Both red and white meat will be available at the store, along with a variety of sizes and categories. The user will be presented with a list of Meat Products from which they can choose or reject. To purchase Meat Products, the user must first register. Before making a purchase, the buyer can go back and double-check everything in his Cart one last time. Managing Meat categories and products, as well as assigning orders to Delivery Boys, is the responsibility of the Store Administrator. According to the above scenario, draw a class diagram) depicting the major objects, their properties and functions and relationships. For objects, classes, and their relationships, you must utilize conventional UML notations. Additionally, domain knowledge can be used to extract system objects, properties, and functions. All the ideas you've learned up to this point, such as abstraction, encapsulation, inheritance, association, generalization, and specialization, must be used.
Answers
In the given scenario of developing an online meat store by the government of Pakistan, a class diagram can be used to depict the major objects, their properties, functions, and relationships.
The class diagram will incorporate UML notations and concepts such as abstraction, encapsulation, inheritance, association, generalization, and specialization to represent the system's design.
The class diagram will include major objects such as User, Meat Product, Cart, Store Administrator, and Delivery Boy. Each object will have its properties and functions.
For example, the User class may have properties like name, address, and email, and functions like register(), chooseProduct(), and reviewCart().
The Meat Product class will have properties like name, category, and size, and functions like viewDetails() and addToCart().
The relationships between the objects will be represented using associations, where one object can have a relationship with another object.
For instance, the User object will have an association with the Cart object, indicating that a user can have a shopping cart. The Store Administrator object will have associations with the Meat Product and Delivery Boy objects, representing the responsibilities of managing meat categories, products, and assigning orders to delivery boys.
Inheritance can be used to represent specialized classes derived from general classes.
For example, the Meat Product class can be a general class, and specialized classes like Red Meat and White Meat can inherit from it, inheriting its properties and functions while adding their specific attributes.
By utilizing these UML notations and concepts, the class diagram will provide a visual representation of the major objects, their relationships, and their properties and functions in the online meat store system.
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A foreign currency ________ contract calls for the future delivery of a standard amount of foreign exchange at a fixed time, place, and price.
A) futures
B) forward
C) option
D) swap
Answers
A foreign currency forward contract calls for the future delivery of a standard amount of foreign exchange at a fixed time, place, and price. Option b is correct.
In this contract, two parties agree to exchange currency at a predetermined exchange rate on a specific future date. Forward contracts help businesses and individuals hedge against fluctuations in exchange rates, providing a measure of financial stability.
Unlike futures contracts, forward contracts are privately negotiated and not standardized or traded on an exchange. Options (C) and swaps (D) are different types of financial instruments, where options give the right (but not obligation) to exchange currency, and swaps involve the exchange of cash flows between two parties.
Therefore, option b is correct.
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Consumer awareness and consumer education are important considerations for many organizations that don’t sell products or services. A. True B. False
Answers
The statement that Consumer awareness and consumer education are important considerations for many organizations that don’t sell products or services is true.
What is Consumer awareness?Consumer awareness can be seen as the way that is been used in showing that the buyer or purchaser is aware of the details and information regarding goods, services, administrations, and buyer rights.
In order to raise consumer awareness of the product it should be noted that the corporation is mainly focused on marketing the product.
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PLEASE HELP!! I WILL GIVE BRAINLIEST!!!
Your manager has been asked to speak to a community group about an upcoming development project that will be demolishing an old mall and building a mixed-use space with apartments, retail, and office space—a topic that has created some controversy in the community. She’s asked for your help in putting together her presentation. Do you think that a live or virtual presentation would be most effective? Why? What types of multimedia elements do you think would be most engaging? Why?
Answers
Answer:
use both the photos to help with the anwer it cut the photo so you have to go back and forth for the anwer
which resource management activity identifies and verifies that personnel
Answers
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10. Which of the following statement is/are true? A. Under basic marketing the sales person simply sells the product B. Under reactive marketing the sales person in addition encourage the buyer to call C. Under partnership marketing the company continuously works with customers to perform better D. All except C E. All of the above
Answers
Answer:
D. All except C
Explanation:
Because susans standard deduction is greater than the amount she made, it turns out that Susan never owed taxes. How large of a refund should she expect from the Federal
government if she follows through on filing her 1040 form
Answers
Note that if Susan's standard deduction is greater than the amount she made, it means her taxable income is zero. If she had any taxes withheld from her paychecks throughout the year, she would be eligible for a full refund of those taxes.
What is the rationale for the above response?Assuming Susan is a single taxpayer under the age of 65 and not claimed as a dependent on anyone else's tax return, her standard deduction for tax year 2022 (filing in 2023) would be $12,950.
If Susan's total income for the year is less than or equal to $12,950, she would owe no federal income tax and would be eligible for a full refund of any federal income tax withheld from her paychecks or estimated tax payments she made throughout the year.
The exact amount of her refund would depend on how much federal income tax was withheld from her paychecks or paid in estimated tax payments throughout the year. Susan can determine the amount of her refund by completing her tax return using Form 1040 and any other applicable forms and schedules.
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