Answer-a:
Based on the background information, impairment assessment is to be done at store level i.e. CGU level
In testing a cash-generating unit for impairment, an entity shall identify all the corporate assets that relate to the cash-generating unit under review.
If a portion of the carrying amount of a corporate asset can be allocated on a reasonable and consistent basis to that unit, the entity shall compare the carrying amount of the unit, including the portion of the carrying amount of the corporate asset allocated to the unit, with its recoverable amount.
Answer-b:
The first step is to calculate the impairment losses for each of
the CGUs. To do this, the carrying amount
of the headquarters building is allocated in proportion to their
carrying amount. Impairment losses are then as follows.
The above impairment loss is then allocated across all non‐excluded assets in that CGU.
Homes Stylist Ltd (HSL) runs 4 stores (namely: Alpha, Beta, Ceta and Delta) selling antique furniture...
QUESTION4 Diagnostics Ltd is a key supplier of medical equipment to hospitals and other health facilities. Diagnostics was incorporated under the Cempanies Act of 2004 in 2012, and is a registered VAT vendor, Al its suppliers are also VAT vendors and VAT is calculated at a rate of 15%. The following infomation was extracted from the records of Dlagnostics Ltd for the reporting porlod ended 31 March 2016. (26 MARKS) Note Dr Cr 12 500 000 Sales Cost of sales...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1)* 2016 71,890 21,789 50.101 20,067 9.143 29 Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 22) Eamings before provision for taxes on income Provision for taxes on income (Note 8)...
Required: 1. What is the amount of Apple’s accounts receivable as of September 30, 2017? 2. Compute Apple’s accounts receivable turnover as of September 30, 2017. 3. How long does it take, on average, for the company to collect receivables for fiscal year ended September 30, 2017? 4. Apple’s most liquid assets include (a) cash and cash equivalents, (b) short-term marketable securities, (c) accounts receivable, and (d) inventory. Compute the percentage that these liquid assets (in total) make up of...
(2) Schedules Complete the sales and merchandise purchase plans with supporting schedules: a) A sales plan by month and in total, including a schedule of projected cash collections from sales and accounts receivable, by month and in total (2 schedules). b) An inventory purchases plan in units and in dollars, including a schedule of projected cash payments for purchases, by month and in total (3 schedules). NOTE: All schedules and budgets should be calculated based on information entered into the...