Presented below is net asset information related to the Salmon Division of Horton, Inc. SALMON DIVISION NET ASSETS AS OF DECEMBER 31, 2020 (IN MILLIONS) Cash $ 50 Receivable 150 Property, plant, and equipment (net) 2,080 Goodwill 160 Less: Notes payable (2,160) Net assets $ 280       The purpose of the Salmon 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 $320 million. Management has also received an offer to purchase the division for $278 million. The identifiable book and fair value amounts of all assets and liabilities are the same. Instructions Prepare the journal entry (if any) to record the impairment at December 31, 2020   At December 31, 2021, it is estimated that the division’s fair value increased to $283 Prepare the journal entry (if any) to record this increase in fair value.

During 2020, BLACKPINK INC. incurred costs to develop and produce a routine, low-risk computer software product as follows: • Completion of detailed program design or working model- 1,000,000 • Cost incurred for coding and testing to establish technological feasibility- 200,000 • Other coding costs after the establishment of technological feasibility- 2,000,000 • Other testing costs after the establishment of technological feasibility- 1,500,000 • Costs of producing product masters for training materials- 2,500,000 • Duplication of computer software and training materials from product master- 3,000,000 • Production overhead- 1,000,000 • Packaging product- 500,000 • Administrative overhead- 750,000 • Promotional cost of the finished software- 200,000 • Abnormal amount of wasted materials and labor costs- 250,000 In the December 31, 2020 balance sheet, what amount should be reported as inventory?

Presented below is net asset information related to the Shamrock Division of Santana, Inc. Shamrock Division Net Assets As of December 31, 2025 (in millions) Cash $67 Accounts receivable 200 Property, plant, and equipment (net) 2,611 Goodwill 217 Less: Notes payable Net assets (2,606) $489 The purpose of the Shamrock 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 $410 million. Management has also received an offer to purchase the division for $335 million (deemed an appropriate fair value). All identifiable assets' and liabilities' book and fair value amounts are the same. (a) Prepare the journal entry to record the impairment at December 31, 2025. (If no entry is required,…

Please help me to solve this problem

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"…

Perit Industries has $155,000 to invest in one of the following two projects: Cost of equipment required Working capital investment required Annual cash inflows Salvage value of equipment in six years Life of the project Project A $ 155,000 $ 25,000 $ 8,600 6 1. Net present value project A 2. Net present value project B 3. Which investment alternative (if either) would you recommend that the company accept? X Answer is complete but not entirely correct. Project B $0 $ 155,000 $ 40,000 years The working capital needed for project B will be released at the end of six years for investment elsewhere. Perit Industries' discount rate is 14%. Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using tables. Required: 1. Compute the net present value of Project A. Note: Enter negative values with a minus sign. Round your final answer to the nearest whole dollar amount. 2. Compute the net present value of Project B. $(53,971) 70,527 X Project B $0…

The Baltic Company is considering the purchase of a new machine tool to replace an obsolete one.  The machine being used for the operation has a current book value of $80,000, with an annual depreciation expense of $8,000.  It has a resale value today of $40,000, is in good working order, and will last, physically, for at least 10 more years.  The proposed machine will perform the operation so much more efficiently that Baltic engineers estimate that labor, material, and other direct costs of the operation will be reduced $60,000 a year if it is installed.  The proposed machine costs $240,000 delivered and installed, and its economic life is estimated at 10 years, with zero salvage value.  The company expects to earn 14 percent on its investment after taxes (14 percent is the firm's cost of capital).  The tax rate is 22 percent, and the firm uses straight-line depreciation.  Any gain or loss on the sale of the machine at retirement is subject to tax at 40 percent.    Would it be better…

Sheridan Corp. is considering purchasing one of two new diagnostic machines. Either machine would make it possible for the company to bid on jobs that it currently isn't equipped to do. Estimates regarding each machine are provided here. Original cost Estimated life Salvage value Estimated annual cash inflows Estimated annual cash outflows Net present value Machine A $78,200 8 years Profitability index 0 $19,800 $5,130 Click here to view the factor table. Calculate the net present value and profitability index of each machine. Assume a 9% discount rate. (If the net present value is negative, use either a negative sign preceding the number eg-45 or parentheses eg (45). Round answer for present value to 0 decimal places, e.g. 125 and profitability index to 2 decimal places, eg. 10.50. For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Machine A Machine B $182,000 8 years $39,600 $10,180 Machine B

Please do not give solution in image format thanku