Homework Answers
First of all impairment of assets occurs when the carrying value(book value) of the asset is more than the recoverable amount of the asset. The recoverable is calculated at regular intervals to determine the impairment loss.
Now in the above case the journal entry which has been passed is an example of disposal or sale of asset and hence it can't be called as an impairment. Rather it's an example of loss on sale of asset
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Cash - 40,000 - Loss on Sale 10,000 Accumulated Depreciation - 250.000 - Machine - 300,000...
Cash 40,000 Loss on Sale 10,000 Accumulated Depreciation &nbs
Cash 40,000 Loss on Sale 10,000 Accumulated Depreciation 250,000 Machine 300,000 Question: Why is this not an impairment loss? When does an impairment loss apply? I am not asking about the technical details about how to calculate the impairment loss. I am just looking for a brief explanation (in one or two sentences) about the basic difference between an impairment loss scenario and the scenario described above?
Recall from assignment TVM3DEF that when we sold our machine at the end of its useful...
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Recall from assignment TVM3DEF that when we sold our machine at the end of its useful life we recorded a loss of $10,000 (difference between the selling price of $40,000 and book value of $50,000). Some students incorrectly called this an impairment loss. The correct entry is Cash 40,000 Loss on Sale 10,000 Accumulated Depreciation 250,000 Machine 300,000 Question: Why is this not an impairment loss? When does an impairment loss apply? I am not asking about the technical details...
Using the book, write another paragraph or two: write 170
words:
Q: Compare the assumptions of physician-centered and
collaborative communication. How is the caregiver’s role different
in each model? How is the patient’s role different?
Answer: Physical-centered communication involves the specialists
taking control of the conversation. They decide on the topics of
discussion and when to end the process. The patient responds to the
issues raised by the caregiver and acts accordingly. On the other
hand, Collaborative communication involves a...
How can we assess whether a project is a success or a
failure?
This case presents two phases of a large business transformation project involving the implementation of an ERP system with the aim of creating an integrated company. The case illustrates some of the challenges associated with integration. It also presents the obstacles facing companies that undertake projects involving large information technology projects. Bombardier and Its Environment Joseph-Armand Bombardier was 15 years old when he built his first snowmobile...
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