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Jawaban dari "Roland Company uses special binding equipment in its packaging business. The equipment was purchased..."

Jika anda sedang melihat jawaban dari pertanyaan Roland Company uses special binding equipment in its packaging business. The equipment was purchased in January 2011 for $ 10,000,000 and has an estimated useful life of 8 years with no residual value. On December 31, 2012, new technology was introduced that will accelerate the obsolescence of Roland equipment. Roland controllers estimate that the expected future net cash flow from the equipment is $ 6,300,000 and the fair value of the equipment is $ 5,600,000. Roland intends to continue using the equipment, but its estimated useful life is 4 years. Roland uses straight line depreciation. kamu berada di website yang tepat. Kami mempunyai 1 jawaban dari Roland Company uses special binding equipment in its packaging business. The equipment was purchased in January 2011 for $ 10,000,000 and has an estimated useful life of 8 years with no residual value. On December 31, 2012, new technology was introduced that will accelerate the obsolescence of Roland equipment. Roland controllers estimate that the expected future net cash flow from the equipment is $ 6,300,000 and the fair value of the equipment is $ 5,600,000. Roland intends to continue using the equipment, but its estimated useful life is 4 years. Roland uses straight line depreciation.. Silakan pelajari jawaban selanjutnya di bawah ini:

Jawaban: #1:

Jawaban:

Answer:

Consider the following calculations

Explanation:

Answer:(a) Carrying value of asset: $10,000,000 - $2,500,000 = $7,500,000.

($10,000,000 รท 8) x 2 = $2,500,000

Future cash flows $6,300,000

Carrying value $7,500,000

Impairment entry:

Loss on Impairment A/C Dr. $1,900,000

To Accumulated Depreciation A/C $ 1,900,000

(7,500,000 - 5,600,000 = 1,900,000)

(b) Depreciation Expense A/C Dr. $ 1,400,000

To Accumulated Depreciation A/C $ 1,400,000

($5600000/4=$1400000)

(c ) No depreciation is recorded on impaired assets to be disposed of.

Recovery of impairment losses are recorded.

Loss on Impairment A/c Dr. $1,900,000

To Accumulated Depreciation A/C $ 1,900,000

12/31/2015 Accumulated Depreciation A/C Dr. $ 300,000

To Recovery of Impairment Loss A/C $ 300,000

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