Empresas Boricua operates in a country where undistributed earnings are taxed at 50% and distributed earnings are taxed at 40%. In year 2 Boricua generated earnings before contributions of $ 200,000 and paid dividends of $ 60,000 from the earnings of year 1. What amount of tax expense will Boricua recognize in year 2

Multiple Choice

$100,000

$56,000

$94,000

$70,000

The collection of dividends and interest is classified in the statement of cash flows as which type of activity

Multiple Choice

IFRS US GAAP Operational or financing Operational

IFRS US GAAP Operational or Investmest Operational

lFRS US GAAP Operational Operational

IFRS US GAAP Operational or Investmest Investment

At the end of year 3, Coqu Inc. presents the following information for equipment purchased at the beginning of year 1.Book (Carrying) value $ 600,000Net sale price $590,000Value in use (Present value of future cash flows $540,000Determine the amount of impairment (if any) of the asset if the company uses IFRS:

Multiple Choice

$30,000

$60,000

$10,000

$0