Holding all other factors constant, does an impairment charge on a depreciable asset have any effect...
Holding all other factors constant, does an impairment charge on a depreciable asset have any effect on reported income in the years immediately after the impairment is recorded and reported? Briefly explain.
Homework Answers
Yes. Holding all other factors constant, an impairment charge on a depreciable asset has effect on reported income in the years immediately after the impairment is recorded and reported.
This happens so because once impairment loss is recorded on any asset the written down value of the asset diminishes which results in lower charge of depreciation in subsequent years.
Also the decreased value of WDV means decrease in the present value of future inflows from the asset .
Therefore the impairement charge does have an effect in future.
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Holding all other factors constant, does an impairment charge on
a depreciable asset have any effect...
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Please help me with 15.7-15.8 15-7 Holding all else constant, what effect would the following have...
Please help me with 15.7-15.8
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E4.2 Help
Can someone please explain the calculations for this?
Please show work.
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Problem 21-8 On December 31, 2020, before the books were closed, management and the accountant at...
Problem 21-8
On December 31, 2020, before the books were closed, management and
the accountant at Flanagan Inc. made the following determinations
about three depreciable assets.
1.
Depreciable asset A (building) was purchased on January 2,
2017. It originally cost $564,000 and the straight-line method was
chosen for depreciation. The asset was originally expected to be
useful for 10 years and have no residual value. In 2020, the
decision was made to change the depreciation method from
straight-line to double-declining-balance...
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Please help me with 15.7-15.8
15-7 Holding all else constant, what effect would the following have on a company's P/E ratio? (highlight answer, delete others) (COME BACK) a. An increase in expected growth rate of earnings. Up Down No change b. A decrease in expected dividend payout ratio. Up Down No change c. An increase in the risk-free rate of return. Up Down No change d. An increase in the risk premium. Up Down No change e. A decrease in...
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E4.2 Help
Can someone please explain the calculations for this?
Please show work.
Equity Method Accounting, Subsequent Years PL Communications acquired all of the stock of SJ Telecom on January 1,2019. It is now December 31, 2021, three years later. PL Communications uses the complete equity method to report its investment in SJ Telecom on its own books. Both companies have December 31 year-ends. The following information is available e PL Communications paid $400 million to acquire SJ Telecom. e...
Problem 21-8
On December 31, 2020, before the books were closed, management and
the accountant at Flanagan Inc. made the following determinations
about three depreciable assets.
1.
Depreciable asset A (building) was purchased on January 2,
2017. It originally cost $564,000 and the straight-line method was
chosen for depreciation. The asset was originally expected to be
useful for 10 years and have no residual value. In 2020, the
decision was made to change the depreciation method from
straight-line to double-declining-balance...
For each item, record corrections to income from continuing operations before taxes, if any. (If there is no effect then please enter o.) Increase (Decrease) to Income from Continuing Operations No. Description 1. Office equipment purchased January 1, 2017 for $54,690 was incorrectly charged to Supplies Expense at the time of purchase The office equipment has an estimated three-year service life with no expected salvage value. Bakersfield uses the straight-line method to depreciate office equipment for financial reporting purposes. Due...
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