Presented below is information related to equipment owned by Novak Company at December 31, 2020. Cost $11,250,000
Accumulated depreciation to date 1,250,000
Expected future net cash flows 8,750,000
Fair value 6,000,000

Assume that Novak will continue to use this asset in the future. As of December 31, 2020, the equipment has a remaining useful life of 4 years.

Required:
Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2020.

Do you think a travel organization company might be able to get less expensive airline tickets then you as an individual could get? (no less then 25 words)

Renaldo scanlon is a financial consultant. he earns $30 per hour and works 32.5 hours a week. what is his straight-time pay?

Select the correct answer the smith family adopted a child. the adoption procedure took about three months, and the family incurred various expenses. will the smiths receive and financial benefit for the taxable year? a) they will not receive any financial benefit for adopting the child b) their income tax component will decrease c) they will receive childcare grants d) they will receive a tax credit for the cost borne for adopting the child e) they will receive several tax deductions