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Question 8 2.5 pts At the end of its 2020 fiscal year, Dutch John Corp. determined it would be necessary to impair (i.e., write down)
Question 8 2.5 pts At the end of its 2020 fiscal year, Dutch John Corp. determined it would be necessary to impair (i.e., write down) one of its manufacturing facilities. The following information is available for the facility as of Dec. 31, 2020: Original cost of the facility on December 31, 2013: $90,000 Accumulated depreciation through Dec. 31, 2020: $35,000 Fair value of the facility on Dec. 31, 2020: $50,000 What amount of impairment loss should Dutch John report in its 2020 income statement? (just enter the number, without any commas or a dollar sign) Question 7 2.5 pts Duchesne Enterprises purchased equipment for $120,000 on January 1, 2020. The equipment is expected to have a five-year life and a residual value of $20,000. Using the straight- line depreciation method, what amount of equipment (net of depreciation) would Duchesne report on its 2020 balance sheet? (just enter the number, without any commas or a dollar sign) Question 5 2.5 pts During June 2020, Scipio Corp. spent $68,000 on manufacturing equipment it had purchased three years earlier. Of the $68,000, $15,000 was spent on routine maintenance, $3,000 was spent to repair a broken component, and $50,000 was spent to overhaul the equipment, which will enhance the machinery's performance and extend its original useful life by three years. After considering these expenditures, by how much should Scipio increase the amount of its equipment account on the balance sheet? (just enter the number, without any commas or a dollar sign)
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