Determine the recoverable amount of each of the following four assets and state the amount of any
Question:
Determine the recoverable amount of each of the following four assets and state the amount of any impairment loss which should be recognised in each case:
Transcribed Image Text:
Carrying amount Fair value less Value in use costs of disposal Asset 1 . ..25,000. .2,500.. Asset 2 .6,500. . Asset 3 . .18,250. . Asset 4 . .11,400.. . . .27,500 ...4,800 . .15,000 .12,750 .3,750... .17,500..... .13,400...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (10 reviews)
Determine the recoverable amount of each of the following four assets and state the amount of any im...View the full answer
Answered By
Subin Babu
I would like to read new lessons and become a part of the knowledge environment. Because we cannot survive without learn the current changes in all areas of the environment. So that we are required to learn the knowledge not only from our books in the syllabus but also from the surrounding also. Learning keeps you busy and it helps you to spend time productively. Create a stronger work-life balance studying will help you overcome job burnout, allows you to pause, and regenerate energy. Improve your brain health learning is a brain exercise. One thing you must remember is that failing your exams is not the end of the world. Exam failure is one of the many hurdles you will have to surpass in your life, and there are always possibilities to learn and rise above failure. After all, I'm sure most of you have heard the saying 'failure makes you stronger'. We know this is not true, as the human brain stops growing in size somewhere during our mid-20s. Still, humans can continue to learn new information well into old age.
I teach commerce subject like accountancy, business studies, marketing, etc., the best experience that I would like to share is that irrespective of basics that an individual has, need to help the student in understanding the core concepts in clarity. In that way, I am able to push my students in understanding the basic logical structure of subject and excel slowly. I prefer and pump the concepts slowly rather than going in a supersonic speed. For any student (irrespective of class) acquiring interest in the subject matters rather than learning like a machine.
0.00
0 Reviews
10+ Question Solved
Related Book For
International Financial Reporting A Practical Guide
ISBN: 978-1292200743
6th edition
Authors: Alan Melville
Question Posted:
Students also viewed these Business questions
-
What is meant by recoverable amount? When are assets to be written down to recoverable amount? What must an entity do if it is unable to determine the recoverable amount of an individual asset?
-
In 20X6 Alpha AS made the decision to close a loss-making department in 20X7. The company proposed to make a provision for the future costs of termination in the 20X6 profit or loss. Its argument was...
-
An asset which cost £200,000 on 1 January 2016 is being depreciated on the straight line basis over a five year period with an estimated residual value of £40,000. The company which owns...
-
Do you agree with the following statements? Why or why not? a. The benefits of corrective taxes as a way to reduce pollution have to be weighed against the deadweight losses that these taxes cause....
-
Illustrate the amphoteric nature of amino acids by writing an equation for the reaction of valine in its dipolar ion form with one equivalent of a. Hydrochloric acid b. Sodium hydroxide
-
What are the mechanisms underlying species diversification and speciation processes, including allopatric, sympatric, and parapatric speciation, and how do ecological, genetic, and reproductive...
-
Sampras Sporting Goods Company manufactures two types of tennis rackets, the Junior and Pro-Striker models. The production budget for November for the two rackets is as follows: Junior Pro-Striker...
-
The net income reported on the income statement of Bellach Co. was $4,100,000. There were 250,000 shares of $40 par common stock and 60,000 shares of $3 preferred stock par value $100 outstanding...
-
the change in the firm's need for funds? parts a and b. What is the revised cash budget's "bottom line"? the desired minimum level of cash and sales change as in 4. Given the following information,...
-
Yolanda has the option of investing in two different mutual funds. The return in the random walk fund tends to fluctuate wildly, earning substantial positive returns one year only to realize negative...
-
Whilst preparing its financial statements for the year to 30 June 2018, a company discovers that (owing to an accounting error) the sales figure for the year to 30 June 2017 had been understated by...
-
The carrying amounts of the assets of a cash-generating unit are as follows: m Goodwill ............................................................................25 Patents and...
-
According to Descartes' rule of signs, how many i* values are possible for the cash flowsshown? Year Revenue, S 25,000 13,000 4,000 70,000 Costs, $ 30,000-7,000 -6,000-12,000
-
Amy and Tyler Smith are married, in their early forties, and have two 10 year old twins. Tyler works as an IT administrator and earns $70,000 each year. Amy is a project manager with a software...
-
The solubility of a certain compound is: 0.59 g/mL in boiling methanol, 0.0038 g/mL in cold methanol 0.77 g/mL in boiling water, 0.42 g/mL in cold water. Which is a better recrystallization solvent...
-
Find the GCF of 1 0 8 ???? 2 and 2 1 6 ???? .
-
How can the following expression be simplified and written without negative exponents? a-7a2 -5 a
-
KNP Ltd is an Australian general insurance firm. As a risk management consultant, you have been appointed to provide advice for KNP Ltd. An extract from the balance sheet of this financial...
-
Paint Products, Inc., produces paint in three processing departmentsMixing, Testing, and Packaging. Transactions for the month of September are shown as follows. 1. Direct materials totaling $80,000...
-
Write a paper by answer the following question: Should Recycling Be Mandatory?
-
Karen bought a house in 1994 for 42,000. In November 1995 she spent 18,000 on dividing the house into two self-contained flats. In September 2019 she sold one of the flats for 95,000, at which time...
-
Jon bought a chargeable asset for 23,000 in May 1980. He incurred enhancement expenditure of 10,000 in June 1981 and a further 14,000 in July 1999. The asset was valued at 58,500 on 31 March 1982 and...
-
In June 2013, Gillian was given shares with a market value at that time of 6,000. In November 2019 she made a successful claim to the effect that these shares now had a negligible value of only 80....
-
Three people are competing in a go-kart race. Statistics show that Luca has a 34% chance of winning, Martina has a 39% chance of winning, and Seth has a 27% chance of winning. Algebraically determine...
-
Scott finances a Jet Ski for $ 4 , 6 0 0 by taking out an installment loan for 4 8 months. The payments are $ 1 5 3 . 3 3 per month and the total finance charge is $ 2 , 7 5 9 . 8 4 . After 3 6...
-
1 2 3 Your firm is contemplating the purchase of a new $535,000 computer-based order entry system. The system will be depreciated straight-line to zero over its five-year life. It will be worth...
Study smarter with the SolutionInn App