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Date, accounts , Debit or Credit

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Question 13 14 pointe) in December 2016, e angement of Noro conducted a review of the property, plant and equipment and determined that one mame whow we of the women pertains to this machine CA 1000 NI. 10,000 100 K000 Norinco intends to continue using the asset for the next five years, with no expected residual value at the end of that period Northe wine depreciation a) Calculate the amount of impairment, if any, under IAS 36. Please make sure your finalwer(s) we accurate to the newest whore number b) impairment is indicated in part) prepare the necessary journal entry on December 31, 2015 to record the imame Enterpropriate description, and enter the date in the format (18/Jan). Please make sure your final answer() are accurate to 2 decimal places c) Prepare the journal entry to record depreciation for the period ending December 31, 2016. Enter an appropriate description and enter the date in the format di (. 15 Jan Plesso make sure your final answer(s) are accurate to 2 decimal places d) After recording the depreciation for 2016, management reassesses the asset and determines that the fair value is now $154,000, the undiscounted future cash flows are $174.000 and represent value of the estimated future cash flows is $150,000. Prepare the journal entry, if any, to record the reversal of impairment Enter an appropriate description, and enter the date in the formato pe 15/Jan). Please make sure your final answer(s) are accurate to 2 decimal places In Decembar 2016. The management of North Coconducted a review of te property, plant and equipment and celermined that one machine show sidence of palmart. The wonten pertains tot machine COM Acould depression B0.000 lated resowe 161.000 Present time Mr cash nowe 11.000 137.000 Cost of peal 5,000 North Co intends to continue using the past for the next five years, with no expected residual value at the end of that period. Northco uses straighine depreciation p) Calculate the amount of impairment. If any, under IAS 36. Please make sure your final answer(s) are carte to the nearest whole number Impairments b) impalment la indicated in parta), prepare the necessary oumal entry on December 31, 2015 to record the impairment. Enter an appropriate description, and enter the date in the format ddmmm (le 15/Jan). Please make sure your final answer(s) are accurate to 2 decimal places c) Prepare the joumal entry to record depreciation for the period ending December 31, 2016. Enter an appropriate description, and enter the date in the format dalam de. 15Jan). Please make sure your final answer(s) are accurate to 2 decimal places. FR Dil d) Afer recording the depreciation for 2016, management reassesses the asset and determines that the fair value is now $154,000, the undiscounted future cash flows are $174.000 and the present value of the estimated future cash flows is $150,000. Prepare the journal entry, if any, to record the reversal of impairment. Enter an appropriate description, and enter the date in the formatdalmmm (le 15/Jan). Please make sure your final answer(s) are accurate to 2 decimal places. General de Account Explanation PR Debt Credit es Scanner with mScann MacBook Air GO GOD COD In Decembar 2016. The management of North Coconducted a review of te property, plant and equipment and celermined that one machine show sidence of palmart. The wonten pertains tot machine COM Acould depression B0.000 lated resowe 161.000 Present time Mr cash nowe 11.000 137.000 Cost of peal 5,000 North Co intends to continue using the past for the next five years, with no expected residual value at the end of that period. Northco uses straighine depreciation p) Calculate the amount of impairment. If any, under IAS 36. Please make sure your final answer(s) are carte to the nearest whole number Impairments b) impalment la indicated in parta), prepare the necessary oumal entry on December 31, 2015 to record the impairment. Enter an appropriate description, and enter the date in the format ddmmm (le 15/Jan). Please make sure your final answer(s) are accurate to 2 decimal places c) Prepare the joumal entry to record depreciation for the period ending December 31, 2016. Enter an appropriate description, and enter the date in the format dalam de. 15Jan). Please make sure your final answer(s) are accurate to 2 decimal places. FR Dil d) Afer recording the depreciation for 2016, management reassesses the asset and determines that the fair value is now $154,000, the undiscounted future cash flows are $174.000 and the present value of the estimated future cash flows is $150,000. Prepare the journal entry, if any, to record the reversal of impairment. Enter an appropriate description, and enter the date in the formatdalmmm (le 15/Jan). Please make sure your final answer(s) are accurate to 2 decimal places. General de Account Explanation PR Debt Credit es Scanner with mScann MacBook Air GO GOD COD 1264,000 80,000 In December 2015, the management of North Co conducted a review of its property, plant and equipment and determined that one machine shows evidence of impairment. The following information pertains to this machine Coat Accumulated depreciation to date Estimated future cash flow, undiscounted 161.000 Present value of estimated tuture cash flow 138,000 Forval 137.000 Costs of disposal 5,000 North Co intends to continue using the asset for the next five years, with no expected residual value at the end of that period. Northco uses straight-line depreciation p) Calculate the amount of impairment, if any, under IAS 36. Please make sure your final answer(s) are accurate to the nearest whole number. Impairments Dit impairment is indicated in part a), prepare the necessary journal entry on December 31, 2015 to record the impairment. Enter an appropriate description, and enter the date in the format ddmmm Do. 15/Jan). Please make sure your final answer(s) are accurate to 2 decimal places c) Prepare the joumal entry to record depreciation for the period ending December 31, 2016. Enter an appropriate description, and enter the date in the format didimme (n. 15Jan). Please make sure your final answer(s) are accurate to Z decimal places DUplanahon d) After renting the depreciation for 2016, management reassesses the asset and determines that the fair value is now $154,000, the undiscounted future cash flows are $174,000 and the present value chamar future cash flow is $150,000. Prepare the mal entry, any, to record the reversal of impairment. Enter an appropriate description, and enter the date in the format ddimmm we thing and anaco Mod Modernes Peter une bo 200 milesc anner uma Page 0 on Det