Solution-Which is compared with a long-lived asset carrying

Which is compared with a long-lived asset carrying value

Assignment Help Financial Accounting

Reference no: EM133012652

Problem 1: Under US GAAP, to determine whether a potential impairment exists, which of the following is compared with a long-lived asset's carrying value?

a. The asset's estimated future discounted net cash flows.

b. The asset's estimated future undiscounted net cash flows

c. The asset's fair market value

d. The asset's carrying cost

Problem 2: Under US GAAP, the company that has an asset with a carrying value of ?300,000, with its fair value amounting to ?180,000, and the future discounted cash flows from the use of the asset are estimated to be ?200,000, the firm should:

a. recognize an extraordinary loss of ?20,000

b. recognize an extraordinary loss of ?100,000

c. recognize an impairment loss of ?120,000

d. recognize an ordinary loss of ?100,000

Reference no: EM133012652

Questions Cloud

How can human resources add diversity : How can Human Resources add diversity, equity and inclusion to a work place and/or organization?

Which shows that a loss due to value impairment must be : The situations evidenced that a loss has been incurred. Which of these situations shows that a loss due to value impairment must be recognized?

Telecommunication industry in bangladesh : Do you think salary survey method contribute to increase significant wages into telecommunication industry in Bangladesh?

Evaluate differentiation''s consequences for an organisation : "Despite the criticality of dynamic capabilities for organisational sustainability, the emphasis on the short-term interests of investors hinders commitment to

Which is compared with a long-lived asset carrying value : Fair value amounting to ?180,000, and the future discounted cash flows from the use of the asset are estimated to be ?200,000, the firm should

Why can differentiation in hr be bad for an organisations : Why can differentiation in HR be bad for an organisations dynamic capabilities?

What you learned to your current or future work : Thinking back on the material you learned in this course, how can you apply what you learned to your current or future work?

Identify four specific items relating to vacation leave : Your organization is an organic food supplier with employees in the following jurisdictions: Manitoba Yukon

Which of the expenditures qualifies for asset capitalization : Which of expenditures qualifies for asset capitalization? Legal costs associated with obtaining a patent on a new product./ Cost of materials used in prototype

User Account

All Pages

Which is compared with a long-lived asset carrying value

Reference no: EM133012652

Reference no: EM133012652

Questions Cloud

Reviews

Write a Review

Financial Accounting Questions & Answers

Financial statement analysis and preparation

Shareholder of a company

Financial and accounting principles

Prepare a statement of cash flow using the direct method

Financial accounting assignment

Prepare general journal entries for goela

Principles of financial accounting

Prepare general journal entries to record the transactions

Global reporting initiative

Explain the iasb conceptual frameworks

Determine the company''s financial statements

Computation of free cash flow

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT