Reference no: EM132752503
JYD Corporation plans to dispose of a group of net assets that form part of a disposal group. The net assets at December 31, 2020 are:
Carrying Value at December 31, 2020
Goodwill ----------------------------------------------------------------------- 6,000,000
Property, Plant and Equipment ---------------------------------------------18,000,000
Inventory------------------------------------------------------------------------10,000,000
Financial Assets (profit of P2,000,000 recognized in equity) ---------7,000,000
Financial liabilities ------------------------------------------------------------( 4,000,000)
Total ----------------------------------------------------------------------------P37,000,000
Before the date of reclassification, the property, plant and equipment had a fair value of P16,000,000, the inventory has a net realizable value of P9,000,000. The fair value less costs to sell of the disposal group is P25,000,000.
Problem 1: Immediately after classification as held for sale, what amount of liability directly associated with the disposal group should be presented in the liability section of the statement of financial position?
Group of answer choices
Option 1: P2,000,000
Option 2: None
Option 3: P9,000,000
Option 4: P4,000,000
|
Cost leadership strategy and differentiation strategy
: What does a business have to consider when trying to follow a cost leadership strategy and a differentiation strategy simultaneously?
|
|
Determine how many units sold to achieve a target profit
: How many units must be sold to achieve a target profit of $5,400? Oslo Company prepared the following contribution format income.
|
|
Explain what purpose does federal trade commission serve
: Explain What purpose does the Federal Trade Commission serve and why must business owners be educated on Federal Trade Commission practices?
|
|
Find what amount should be disclosed separately in equity
: JYD Corporation plans to dispose of a group, what amount should be disclosed separately in equity relating to non-current asset held for sale?
|
|
Find what amount of liability directly associated
: Find what amount of liability directly associated with the disposal group should be presented in the liability section of the statement of financial position?
|
|
Find what amount should be presented as the carrying value
: JYD Corporation plans to dispose of a group of net assets, what amount should be presented as the carrying value of the disposal group?
|
|
Find what amount of impairment loss allocated to inventory
: The fair value less costs to sell of the disposal group is P25,000,000. What amount of the impairment loss is allocated to the inventory?
|
|
What amount of impairment loss is allocated for jyd corp
: Before the date of reclassification, the property, plant and equipment. What amount of the impairment loss is allocated to the goodwill?
|
|
What is Stephanie interest expense deduction
: Stephanie, a taxpayer in the 24% marginal tax bracket, borrows $100,000 at 7% interest to invest, What is Stephanie interest expense deduction
|