The following information is available for a Company's asset: Cost $5,350,000; Carrying amount (book value) $3,200,000; Undiscounted future cash flows 2,150,000; fair value or market value $2,600,000. Regarding this asset, the company would record a loss on impairment of OE 100.000

The T-accounts for Equipment and the related Accumulated Depreciation—Equipment for Luo Company at the end of 2020 are shown here. Equipment Beg. bal. 80,600 Disposals 23,800 Acquisitions 40,000     End. bal. 96,800     Accumulated Depreciation—Equipment Disposals 8,700 Beg. bal. 47,800     Depr. exp. 13,300     End. bal. 52,400 In addition, Luo’s income statement reported a loss on the disposal of plant assets of $6,100. What amount was reported on the statement of cash flows as “cash flow from sale of equipment”? (Show amount that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Cash flow from sale of equipment   $

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An asset that cost $20,000 and has accumulated depreciation of $17,000 is sold for $4,000. This sale will result in a: Group of answer choices loss of $13,000. gain of $4,000. loss of $16,000. gain of $1,000.

Presented below is information related to equipment owned by Swifty Company at December 31, 2020. Cost Accumulated depreciation to date Expected future net cash flows Fair value $6,370,000 750,000 5,100,000 3,630,000 Assume that Swifty will continue to use this asset in the future. As of December 31, 2020, the equipment has a remaining useful life of 4 years and no salvage value.

Assume a company’s beginning and ending balances in the Accumulated Depreciation account are $30,000 and $44,000, respectively. During the period the company sold one noncurrent asset that had an original cost of $8,000. The cash proceeds from the sale were $3,000 and the gain on the sale was $1,000. What is the amount of the depreciation charges that the company would include in the operating activities section of its statement of cash flows?   Multiple Choice   $18,000   $20,000   $24,000   $8,000

The amount of the impairment loss​ is:   question attached in ss thanks asf as asg a

A fixed asset with a cost of $25,974 and accumulated depreciation of $23,377 is traded for a similar asset priced at $40,828 (fair market value) in a transaction with commercial substance. Assuming a trade-in allowance of $4,683, the cost basis of the new asset is Select the correct answer. $43,425 $38,742 $40,828 $36,145

Cullumber Corporation owns equipment with a cost of $294900 and accumulated depreciation at December 31 of $152200. It is estimated that the machinery will generate future cash flows of $166600. The machinery has a fair value of $115200. Cullumber should recognize a loss on impairment of O $23900. O $0. O $14400 O $37000.

A purchased B, paying $850,000 cash. The books values and fair values of acquired assets and liabilities were: Book asset - Fair Value Current assets net: $130,000 - $125,000 Property, plant, equip: 600,000 - 750,000 Liabilities: 175,000 - 175000 A would record goodwill of: A. $0. B. $150,000 C. $345,000 D. $850,000