![subject](/tpl/images/cats/ekonomika.png)
Business, 26.11.2019 20:31 Sushmitarai4934
E11-16 (impairment) presented below is information related to equipment owned by suarez company at december 31, 2014.
cost $9,000,000
accumulated depreciation to date 1,000,000
expected future net cash flows 7,000,000
fair value 4,800,000
assume that suarez will continue to use this asset in the future. as of december 31, 2014, the equipment has a remaining useful life of 4 years.
impairment) assume the same information as e11-16, except that suarez intends to dispose of the equipment in the coming year. it is expected that the cost of disposal will be $20,000.
instructions
(a)prepare the journal entry (if any) to record the impairment of the asset at december 31, 2014.
(b) prepare the journal entry (if any) to record depreciation expense for 2015.
(c) the asset was not sold by december 31, 2015. the fair value of the equipment on that date is
$5,300,000. prepare the journal entry (if any) necessary to record this increase in fair value. it is expected
![ansver](/tpl/images/cats/User.png)
Answers: 1
![](/tpl/images/ask_question.png)
![](/tpl/images/ask_question_mob.png)
Other questions on the subject: Business
![image](/tpl/images/cats/ekonomika.png)
![image](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 19:10, crzyemo865
Calculating and interpreting eps information wells fargo reports the following information in its 2015 form 10-k. in millions 2015 2014 wells fargo net income $24,005 $24,168 preferred stock dividends $1,535 $1,347 common stock dividends $7,400 $6,908 average common shares outstanding 5,136.5 5,237.2 diluted average common shares outstanding 5,209.8 5,324.4 determine wells fargo's basic eps for fiscal 2015 and for fiscal 2014. round answers to two decimal places.
Answers: 3
![image](/tpl/images/cats/ekonomika.png)
Business, 22.06.2019 19:10, kingjustin0825
Below are the steps in the measurement process of external transactions. arrange them from first (1) to last (6). event step post transactions to the general ledger. assess whether the transaction results in a debit or credit to account balances. use source documents to identify accounts affected by an external transaction. analyze the impact of the transaction on the accounting equation. prepare a trial balance. record the transaction in a journal using debits and credits.
Answers: 3
You know the right answer?
E11-16 (impairment) presented below is information related to equipment owned by suarez company at d...
Questions in other subjects:
![Konu](/tpl/images/cats/mat.png)
Mathematics, 30.03.2021 01:30
![Konu](/tpl/images/cats/mat.png)
Mathematics, 30.03.2021 01:30
![Konu](/tpl/images/cats/health.png)
![Konu](/tpl/images/cats/es.png)
Spanish, 30.03.2021 01:30
![Konu](/tpl/images/cats/ekonomika.png)
Business, 30.03.2021 01:30
![Konu](/tpl/images/cats/mat.png)
![Konu](/tpl/images/cats/istoriya.png)
History, 30.03.2021 01:30
![Konu](/tpl/images/cats/en.png)
![Konu](/tpl/images/cats/mat.png)
Mathematics, 30.03.2021 01:30