Ayayai Corp., a mining company, owns a significant mineral deposit in a northern territory. Ayayai prepares financial statements in accordance with IFRS. Included in the asset is a road system that was constructed to give company personnel access to the mineral deposit for maintenance and mining activity. The road system cannot be sold separately and separate cash flow information is not available for it. The carrying amounts of two cash-generating units of the mine at June 30, 2023, are as follows: Machinery $4,000,000 Mine in the development phase $8,350,000 The machinery's value in use has been assessed at $4,500,000 while the fair value less costs to sell is $3,800,000. With respect to the mine, the value in use is $8,000,000 while fair value less costs to sell is $8,200,000. (b) Determine if the machinery and the mine are impaired and prepare the journal entries, if any, to record the impairment at June 30, 2023. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Debit Date June 30, 2023 June 30, 2023 (To record the impairment of machinery) (To record the impairment of mine) Credit

hich of the following is leakages from the circular flow in a closed economy?   a. household saving and government spending   b. government spending and business investment   c. household saving and net taxes   d. household saving and business investment

Oriole Corp., a public company located in Manitoba, both purchases and constructs various pieces of machinery and equipment that it uses in its operations. The following items are for machinery that was purchased and a piece of equipment that was constructed during the 2020 fiscal year: Machinery Cash paid for machinery, including sales tax of $10,150 and recoverable GST of $7,250 $162,400 Freight and insurance cost while in transit 2,820 Cost of moving machinery into place at factory 3,200 Wage cost for technicians to test machinery 3,900 Materials cost for testing 500 Insurance premium paid on the machinery for its first year of operation 1,900 Special plumbing fixtures required for new machinery 8,050 Repair cost on machinery incurred in first year of operations 1,000 Cash received from provincial government as incentive to purchase machinery 26,300 Equipment (Self-Constructed) Material and purchased parts (gross cost $190,000; failed to take 1% cash discount; the company uses the…

The Thunderman Company operates several factories that manufacture board games. Near the end of the company’s 2018 year, a change in business climate due to a competitor’s innovative products indicated to management that the $170 million book value (original cost of $300 million less accumulated depreciation of $130 million) of the assets of one of Thundermans Factories may not be recoverable. Management is able to identify cash flows from this factory and estimates that future cash flows over the remaining useful l life of the factory will be $150 million. The fair value of the factory’s assets is not readily available but is estimated to be $135 million.1- Recoverability2- Measurement of Impairment loss3- Record Impairment

During 2023, Bird Company sold a building with a book value of $162.093 for proceeds of $179.332. The company also sold long-term investments for proceeds of $33.521. The company purchased land and a new building for $365,175 by signing a long-term note payable. No other transactions impacted long-term asset accounts during 2023. Instructions Compute net cash flows from investing activities.

Presented below is net asset information related to the Metlock Division of Horton, Inc. Cash Receivable Property, plant, and equipment (net) Goodwill METLOCK DIVISION NET ASSETS AS OF DECEMBER 31, 2025 (IN MILLIONS) Less: Notes payable Net assets (a) $50 151 2,063 160 (2,141) $283 The purpose of the Metlock division is to develop a nuclear-powered aircraft. If successful, traveling delays associated with refueling could be substantially reduced. Many other benefits would also occur. To date, management has not had much success and is deciding whether a write-down at this time is appropriate. Management estimated its future net cash flows from the project to be $322 million. Management has also received an offer to sell the division for $281 million. The book values and fair values are equal for all identifiable assets and liabilities. Prepare the journal entry (if any) to record the impairment at December 31, 2025. (Enter amounts in millions. If no entry is required, select "No Entry"…

B3.