What is the recoverable amount of this asset

Assignment Help Accounting Basics
Reference no: EM13120506

A non current asset has a carrying amount of $20,000. it could be sold for $18,500 with selling cost of $500. its value in use is $22,000 and its replacement cost$50,000. according to IAS 36 Impairment of Assets, what is the recoverable amount of this asset?

Reference no: EM13120506

Questions Cloud

Money invested without withdrawing : Jenny Carson invested $12,000 at 8% annual interest and left the money invested without withdrawing any of the interest for 15 years. At the end of the 15 years, Jenny decided to withdraw the accumulated amount of money.
What is the amount of depletion : In January, 2012, Yoder Corporation purchased a mineral mine for $5,100,000 with removable ore estimated by geological surveys at 2,000,000 tons.
Find probabilities could easily be determined : If the random variable z is the standard normal score, which of the following probabilities could easily be determined without
How many milliliters of 0.200 m naoh will be required : How many milliliters of 0.200 M NaOH will be required to titrate 7 mL of 0.479 M H2SO4
What is the recoverable amount of this asset : A non current asset has a carrying amount of $20,000. it could be sold for $18,500 with selling cost of $500. its value in use is $22,000 and its replacement cost$50,000. according to IAS 36 Impairment of Assets, what is the recoverable amount of ..
Cost of removing pollution : If the cost in millions of dollars, to remove x% of pollution in a lake modeled by C=6000/200-2x, how would I figure the cost to remove 75% of the pollution?
Strategy of seven steps to revitalising quality : Assess the effectiveness of the strategy of seven steps to 'Revitalising Quality' at BT Retail and evaluate the role and performance of management in its implementation.
What is the new pressure in the tire : A bicycle tire is filled with air to a pressure of 611 kPa at a temperature of 19 degrees C. Riding the bike on a hot day increases the temperature of the tire to 58 degrees C.
Provide a rationale on what the costs and benefits : Analyze the agency's compensation for employees. Provide a rationale on what the costs and benefits would be for a 2 percent, 4 percent, or 5 percent pay increase for the fiscal year 2014. In your forecast, (a) discuss the effects of the increase ..

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compensating nonprofit board members

Often Board and other committee volunteers for nonprofit organizaations are compensated for expenses during travel and meetings. Some think that this attracts volunteers for the wrong reasons.

  Question of treasury securities

Suppose that you've a short investment horizon (less than one year). You're considering two investments: a one-year Treasury security and 20-year Treasury security.

  Character of income-partnership interest

How much income must Dave report for the tax year and what is the character of the income? What is Dave's basis in his partnership interest at the end of the tax year?

  Question on rate of return

The ABC Co. has no debt in its capital structure, a beta of 0.8, and raises all funds through sale of common stock. The current market rate for similar stock is 14% and the risk-free rate is 6%.

  Volume variance-quantity-price and total variances

A hospital manager budgeted $100,000 for monthly nursing expenses in the hospital's well-baby clinic. The manager expected that the clinic would treat $5000 babies and pay its nurses $40 per hour.

  Define variable and fixed costs

Define variable and fixed costs. Comment on how these costs are used to estimate future requirements. Discuss how contribution margin is used by managers for decision making.

  Capriati corp-equity securities entries

Journal entries for equity securities for Capriati Corp in 2012, their first year of business, including unrealized gains or losses in 2012:

  Schedule of taxable income and journal entries

Prepare a schedule starting with pretax financial income and compute taxable income. Prepare the journal entry to record income taxes for 2011.

  Stock dividend-derivative financial accounting

Derivative accounting: What are the disclosure requirements for traditional and derivative financial instruments? Should companies disclose if such instruments are used for hedging or speculation? Why?

  What are the purposes of accounting codes

What are the purposes of accounting codes? How are they used? What are some examples of codes used by manufacturing firms, accounting firms, and merchandising firms?

  Accrual basis accounting

Determine which of the following is not one of the four conditions that normally must be met for revenue to be recognized according to the revenue principle for accrual basis accounting

  Structure of federal income tax

What is the rate structure of the U.S. federal income tax? Analyze the progressive nature of the U.S. tax system and its consequences.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd