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impairment loss
4. Danny Ltd reported the following assets in its statement of financial position at 30 June 2021:Cash11 000Accounts receivable40 000Allowance for doubtful debts(9 000)Inventories54 000Land400 000Buildings1 175 000Accumulated depreciation — buildings(200 000)Plant850 000Accumulated depreciation — plant(375 000)Goodwill52 000 Danny Ltd undertook impairment testing and determined the recoverable amount of the assets, a cash generating unit (CGU), at 30 June 2021 to be $1,700,000.Required:Calculate and allocate any impairment loss across the cash generating unit. Prepare the necessary journal entry for impairment loss.
It is common for common exhibiting indicators of impairment not to recognise an asset impairment in...
It is common for common exhibiting indicators of impairment not to recognise an asset impairment in the financial statements. This is identified in the academic literature (e.g., Bond, Govendir and Wells, 2016) and it has been identified as a concern by ASIC. Required: Discuss the reasons why firms might not be recognising asset impairments Answer tips: FV >VIU Estimation of cash flows Growth in cash flows Discount rates Contracting incentives….
(c) Apply HKAS 36 Impairment of Assets to allocate impairment loss to the assets in the...
(c) Apply HKAS 36 Impairment of Assets to allocate impairment
loss to the assets in the CGU of Cat Ltd. Show your workings. (12
marks)
(d) Explain any two factors that the accountant should consider
in determining the cash generating unit for Cat Ltd. (5 marks)
questions 1 what is a neurological impairment and how may a person with a neurological impairment...
questions 1 what is a neurological impairment and how may a person with a neurological impairment be affected by their disability? questions 2 Describe three different ways that a person with a sensory disability may present. questions 3 what wrong assumptions can people make about the capacity of a person with a speech or language disability? questions 4 Describe how empowerment could be facilitated when providing support, and two effects of empowerment for a person with support needs. questions 5...
What is impairment? Discuss how to determine when long-lived asset impairment exists (i.e. tangib...
What is impairment? Discuss how to determine when long-lived asset impairment exists (i.e. tangible and intangible). Give specific examples of assets that are regularly tested for impairment. What is the journal entry when it has been determined that an asset has been impaired.
Problem 7-16 Impairment of receivables Problem 7-16 Impairment of receivables (Appendix 78] National Bank loaned the...
Problem 7-16 Impairment of receivables
Problem 7-16 Impairment of receivables (Appendix 78] National Bank loaned the Lyon Company $10 million, at an Interest rate of 8%. The note was signed January 1, 2008, and was due December 31, 2022 Annual Interest was last pald on December 31, 2016. At January 1, 2018, National Bank concluded it was probable that the note was Impalred. National believes It will not collect accrued Interest, that it will only receive $500,000 of Interest each...
Please explain what goodwill impairment is and provide examples
Please explain what goodwill impairment is and provide examples
The impairment loss for an asset that a company intends to hold and use is the...
The impairment loss for an asset that a company intends to hold and use is the difference between? a. Assets book value and its lower fair value b. Assets book value and its fair value c. Present value of discounted cash flows and the book value d. Asset’s fair value and the present value of the discounted cash flow
Persons having Raynaud's syndrome are apt to suffer a sudden impairment of blood circulation in fingers and toes, In an experiment to study the extent of this impairment, each subject immersed a...
Persons having Raynaud's syndrome are apt to suffer a sudden impairment of blood circulation in fingers and toes, In an experiment to study the extent of this impairment, each subject immersed a forefinger in water and the resulting heat output a cm min was measured. For m-g subjects with the syndrome, the average heat output was 0.64, and or n nonsufferers' respectively. Assume that the two distributions af heat output are normal with σ1-0.2 and σ2-0.3. 9 no sufferers the...
Cognitive impairment can disrupt the person's ability to participate in their ADL's.
1. Cognitive impairment can disrupt the person's ability to participate in their ADL's. Lint three examples of specific difficulties with ADL's that could arise, and then provide one action the PSW could implernent to support and assist the client to promote autonory and dignity with the task. (6 marks) i) ADL task: PSW support: ii) ADL task: PSW support: iii) ADL task: PSW support: 2. Mr. Heron is a 78-year-old client of the agency you are employed with. He lives in a retirement home but is supported by your agency...
(c) Apply HKAS 36 Impairment of Assets to allocate impairment
loss to the assets in the CGU of Cat Ltd. Show your workings. (12
marks)
(d) Explain any two factors that the accountant should consider
in determining the cash generating unit for Cat Ltd. (5 marks)
Problem 7-16 Impairment of receivables
Problem 7-16 Impairment of receivables (Appendix 78] National Bank loaned the Lyon Company $10 million, at an Interest rate of 8%. The note was signed January 1, 2008, and was due December 31, 2022 Annual Interest was last pald on December 31, 2016. At January 1, 2018, National Bank concluded it was probable that the note was Impalred. National believes It will not collect accrued Interest, that it will only receive $500,000 of Interest each...
Persons having Raynaud's syndrome are apt to suffer a sudden impairment of blood circulation in fingers and toes, In an experiment to study the extent of this impairment, each subject immersed a forefinger in water and the resulting heat output a cm min was measured. For m-g subjects with the syndrome, the average heat output was 0.64, and or n nonsufferers' respectively. Assume that the two distributions af heat output are normal with σ1-0.2 and σ2-0.3. 9 no sufferers the...
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