IAS 36. Impairment of assets. We are a photo studio, and due to the increase in work and staff, we have had to acquire three new cameras and accessories. The acquisition occurred in January 2018. The prices of the cameras are as follows: - Camera 1: 1.750 euros - Camera 2: 3.500 euros - Camera 3: 1.950 euros - Accessories: 4.550 euros
Calculate:
- The impairment loss of the asset at the end of 2020, taking into account that the recoverable amount of the acquisitions is:
o Camera 1: 575 euros
o Camera 2: 1.500 euros
o Camera 3: 750 euros
o Accessories: 2.200 euros

Answers

Answer 1

The impairment loss of cameras are 1175; 2000 and 1200 euros respectively and that of accessories is 2350 euros.

What is impairment loss?

When the carrying cost of an asset is more than the recoverable cost of such assets, it is known as an impairment loss.

The calculation of impairment losses is done by using the formula,

Impairment Loss= Carrying Cost- Recoverable Cost

By using the above formula and the given values, the impairment losses of

Camera 1 will be 1175 eurosCamera 2 will be 2000 euros Camera 3 will be 1200 eurosAccessories will be 2350 euros

Hence, the impairment loss of the given assets has been aforementioned.

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Related Questions

6. Using current examples (include cases of resolved or pending judgements) evaluate the success or failures of the Competition Policy of South Africa. economics

Answers

It benefited by balancing the act of economic transformation that will benefit all South Africans through ownership, the participation of small and medium enterprises and employment.

What is the Competition Policy of South Africa?

South Africa's new competition policy and law were drafted during the early years of South Africa's new democracy, a period characterized by important domestic policy and regulatory reform.

The Competition Commission is empowered by the Competition Act to investigate, control and evaluate restrictive business practices, abuse of dominant positions and mergers in order to achieve equity and efficiency in the South African economy.

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If two adjacent columns are selected and then sorted, the left-most column is

the primary sort.
the secondary sort.
the primary filter.
the secondary filter.

Answers

Answer:

The first sort

Explanation:

QBF sorts the field with the lowest number first. The first sort is called the primary sort. If you want the field displayed in descending order, follow the sort priority number by d (or D). For ascending order, you can enter a (or A) or no letter, because ascending order is the default.

need some help with my business class

Answers

Answer:

what specific project?

Internal grievance and dispute resolution procedures involve the care and treatment provided by the workers’ compensation program, along with an __________ process to the state workers’ compensation agency.

a. adverse selection
b. appeals
c. assessment
d. adjudication

Answers

Answer:

b. appeals

Explanation:

HOPE THIS HELPS AND HAVE A NICE DAY <3

Answer:

appeals

Explanation:

As accurately it's called appealing or appealment process .

This is a power assigned to the state workers' compensation agencyIt is a part of workers'compensation program

Option B

Work should be performed by an individual if ________.

Answers

Answer:
there is no need for diverse input

Which of the following best describes China’s role in the auto industry?

China exports a lot of cars, but the reason it is a major part of the auto industry is because it exports a lot of parts.
China exports very few cars, but is a big part of the auto industry because it exports a large number of car parts.
China exports very few cars, but the reason it is not a major part of the auto industry is because it also does not export many car parts.
China exports a lot of cars, but is not a major part of the auto industry because it does not export many car parts.

Answers

China exports a lot of cars, but the reason it is a major part of the auto industry is that it exports a lot of parts. option A is correct.

China's Role in the auto industry.

China has a very crucial role in the auto industry, according to record, in 2018 China is responsible for the production of 30% of the total cars produced.

It is also recorded that China produces more cars than the EU and US combined.

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If you’re working with a group of people, or need the support of the students, you’ll need to learn how to create an argument and present it in an effective way.

A. True
B. False

Answers

It’s true because when you are presenting in a group. You need to make sure you’re prepared for whatever someone tries to throw at you within the argument and to also get your audience more intrigued in the argument

Discuss some of the trade-offs and the challenges of a move to an enterprise-level analytics solution for companies and their individual end users who might have grown accustomed to working with their own customised solutions for generating data.

Answers

Enterprise-level analytics is a challenge for mid-small companies but it may render important benefits.

What is Enterprise-level analytics?

Enterprise-level analytics can be defined as the analysis of data, business, and analytical abilities of a given enterprise.

The most important benefit associated with enterprise-level analytics is to low costs of production.

In conclusion, enterprise-level analytics is a challenge for mid-small companies but it may render important benefits.

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Net loss can be thought of as a __________ to the Capital account.

Debit
Credit

Answers

Answer:

The answer is Credit.

Explanation:

Net loss can be thought of as a Credit to the Capital account.

what's the best way to calculate ending inventory if using FIFO method?

Answers

Answer:

According to-

Explanation:

According to the FIFO method, the first units are sold first, and the calculation uses the newest units. So, the ending inventory would be 1,500 x 10 = 15,000, since $10 was the cost of the newest units purchased.

(discuss the five value added role (economic benefits) of distribution centers?)

Answers

A warehouse or other specialized building, regularly equipped with refrigeration or air conditioning, which is stocked with goods to be delivered to retailers, wholesalers, or immediately to consumers is known as a distribution center for a set of merchandise.

What are the economic benefits of distribution centers?

Distribution facilities are designed to maximize performance on the subject of the:

IntakeProcessing, Storage,Distribution of goods

Thus, As a result of the establishment of distribution centers, less cash is wasted purchasing transient storage, coping with stockouts, or dropping clients because of not being on time or incomplete orders.

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the usefulness of the worksheet is?
a. identifying the accounts that need to be adjusted
b. summarizing the effects of all the transaction of the period
c. adding the preparation of the FS
d. all of the above

Answers

The worksheet is used for identifying the accounts that need to be adjusted, summarizing the effects of all the transaction of the period and adding the preparation of the financial statements.

What is a worksheet?

It is a document used in the accounting department for analyzing and ensuring accounting entries and records. It is the working space for entering the additional information about the accounting data.

Hence, option D is correct with respect to the worksheet.

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What is Top Glove's company process strategy?

Answers

Answer: Top Glove's growth strategy is two-fold: organic and inorganic expansion. Its yearly production capacity increased dramatically from 3.2 billion pieces in 2001 to 64 billion pieces in 2019.

Explanation:

Answer:

Top Glove's management's focus is to use technology to further automate its production lines, reduce the number of workers, and improve the efficiency of its line and quality of its products.

Explanation:

National cement factor is engage in the production of cement, and the company has birr 10,000,000 birr. Further, the production function of the company is given by Q = 20L1/2K1/2, and the unit cost of labor and capital are birr 100 and 50 respectively. Given the above information perform the following questions. Determine the type of returns to scale that the company production function has? Find the optimal level of labor and capital, and maximum output? Find the level of profit if the unit price of 100 KM of cement is birr 400?​​

Answers

From the equation given, it is clear that the company's production function has a constant returns to scale.

What is a production function?

A production function refers to an equation that captures the highest number of output that can be manufactured with a limited or given set of input.

To determine whether a production function has growing, decreasing, or constant returns to scale, multiply each input with a positive constant (t > 0), then see if the entire production function is multiplied with a number that is higher, lower, or equal to that constant.

Recall the the production function is given as:

Q = 20L1/2K1/2; and

Unit cost of Labor and Capital are 100 and 50 respectively. Plugging the Unit costs of Labor and Capital respectively, we have:

Q = (20 * 100)/ (2 *50/2)

= 2000/50

Q = 40

Hence the production function of the company has a constant returns to scale.

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PLEASE ANSWER FAST
A film editor’s job requires artistic vision and adaptability.

A. True
B. False

Answers

i believe that the answer is a. true

Given the above predicted changes in quantity demanded by region, use the stay even analysis %ΔQd = %ΔP/(%ΔP +margin): Can you raise prices by 7% in any of the regional markets? State your conclusion and then show the all the steps supporting your conclusion. Note: Assume from problem 3 on Problem Set 1 that the optimal prices by region are: Southwest region $311; Upper West region $278; and Northeast $240. Please write your conclusion case study style in the dialogue box.

Answers

Based on the stay even analysis, it can be concluded that a 7% increase in price would lead to a decrease in the quantity demanded.

How to explain the stay even analysis?

The stay even analysis %ΔQd = %ΔP/(%ΔP +margin) can be used to determine if a price increase of 7% would result in a decrease in quantity demanded that is less than the increase in quantity demanded.

The optimal prices by region are Southwest region $311; Upper West region $278; and Northeast $240. The stay even analysis for the Southwest region is as follows:

%ΔQd = %ΔP/(%ΔP +margin)

= 7%/7.5% = 93.33%.

This means that a 7% increase in price would result in a decrease in the quantity demanded.

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Alpha sold machinery that it used in its business to Beta, a related entity, for $40,250. Beta used the machinery in its business. Alpha bought the machinery a few years ago for $49,750 and has claimed $30,250 of depreciation expense. What is the amount and character of Alpha's gain?Alpha sold machinery that it used in its business to Beta, a related entity, for $40,250. Beta used the machinery in its business. Alpha bought the machinery a few years ago for $49,750 and has claimed $30,250 of depreciation expense. What is the amount and character of Alpha's gain?

Answers

The amount and character of Alpha's gain from the sale to Beta are $20,750 capital gains.

What is capital gain?

A capital gain is an excess realized from the sale of assets because of the increased value compared to the book value.

Capital gain is subject to capital gain tax.

Data and Calculations:

Cost of machinery = $49,750

Accumulated depreciation = $30,250

Book value = $19,500 ($49,750 - $30,250)

Sales to a related entity = $40,250

Capital gains = $20,750 ($40,250 - $19,500)

Thus, the amount and character of Alpha's gain from the sale to Beta are $20,750 capital gains.

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Which option is not available in the Presenter view of a presentation?

Next Slide Preview
Pen/Laser Pointer tools
Open Slide Show
Navigation Controls

Answers

Answer:

next slide preview

Explanation:

next slide preview

What can a borrower do to take control of their debt?
A. The borrower can create a payment plan.
B. The borrower can make only minimum payments.
C. The borrower can pay bills selectively.
D. The borrower can apply for more credit cards.

Answers

The answer is A: the borrower can create a payment plan

Answer:

the Answer is A. The borrower can create a payment plan.

Explanation:

How would you enter the following into a adjusted trial balance?
1. A physical count reveals only $500 of roofing supplies on hand.
2. Depreciation for March is $247.
3. Unearned revenue amounted to $180 at March 31.
4. Accrued salaries are $600.

Answers

The following items will be listed on the Adjusted Trial Balance as indicated:

Adjusted Trial Balance as of March 31

1. Debit Supplies on Hand with $500

2. Debit Depreciation Expense with $247

3. Credit Unearned revenue with $180

4. Credit Accrued Salaries with $600

What is an adjusted trial balance?

An adjusted trial balance is the trial balance prepared after making adjustments for:

PrepaymentsUnearned revenueAccrued expenses and revenueNon-cash expenses, e.g. depreciation.

Thus, preparing an adjusted trial balance helps to ensure that the accounts are prepared in agreement with the matching concept and the accrual basis of generally accepted accounting principles.

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How nike failed to promote a healthy intercultural and diverse communication environment

Answers

Explanation:

Nike’s HR chief has conceded that it has “failed” in promoting and hiring women and minorities to senior-level positions within the business.

The memo comes just a few weeks after the resignation of general manager of global categories Jayme Martin amid reports of inappropriate behaviour.

Research title related to ABM​

Answers

Answer:

They are: business, marketing, accounting, project management, and human resources.

Hope it helps...

Easy question 20 points……..

Answers

Answer:

its b

Explanation:

When a persons actions make another person look bad

Which statement describes why you should start retirement planning early?
A. Your income will decrease, while your expenses will stay the
same.
B. Your income will increase, while your expenses will decrease.
C. Your income will decrease, while your expenses will increase.
D. Your income will increase, while your expenses will stay the same.

Answers

The reason why you should begin to plan retirement at an early stage is that C. Your income will decrease, while your expenses will increase.

Why should you plan retirement early?

As you grow older, the value of your income will decrease thanks to inflation which depreciates the value of money.

This also means that the value of your expenses increases. You should therefore start planning for retirement earlier when you have more income.

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Answer:

C. Your income will decrease, while your expenses will increase.

Explanation:

Which position or group of stakeholders has the most power in your organization or one with which you are familiar?

Answers

The group of stakeholders with the most power in any organization is the Board of Directors (Management).

What is the Board of Directors?

The board of management or directors obtains its power through a formal position as appointed by the stockholders.

The role of the Board of Directors in a company includes:

Set strategyOversee managementHire the CEO or general manager Assess the overall direction and strategy.

Thus, the group of stakeholders with the most power in any organization is the Board of Directors (Management).

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Customer satisfaction:- refers to the customer’s feeling that a product has met or exceeded expectations; determines what kind of marketing strategy will be used; is the same as customer value; is only important to companies that have a differential competitive advantage; is accurately described by all of the above.

Answers

According to the research, customer satisfaction refers to the customer's feeling that a product has met or exceeded expectations.

What is customer satisfaction?

It is a metric that indicates how happy consumers are with the products and services you provide.

In other words, it is the sensation of pleasure that a customer feels about a product or service that he consumes because it meets his demands and expectations.

Therefore, we can conclude that according to the research, customer satisfaction refers to the customer's feeling that a product has met or exceeded expectations.

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The investment with the highest risk is ____.
A. government bonds
B. stocks
C. mutual funds
D. real estate

Answers

The investment with the highest risk is known as the C. mutual fund.

What is a mutual fund?

It should be noted that a mutual fund simply means investing in securities, bonds, ad debt by the company.

Therefore, the investment with the highest risk is known as the mutual fund.

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Answer:

B. Stocks

Explanation:

Stocks do not guarantee giving return to the visitor, and they are easy to lure people into scams.

What term refers to the power of the government to tax and spend to achieve
economic goals?
A. Fiscal policy
B. Discretionary spending
C. Monetary policy
D. Economic efficiency.

Answers

The answer is A Fiscal policy

A down payment is:
O
a) The monthly payment you make towards your mortgage.
Ob) Part of your closing costs.
c)
The initial sum of money that you pay toward your house.
A homeowner's final mortgage payment.
d)
Submit

Answers

Answer:

C

Explanation:

Down payment is something that you pay upfront before getting anything.

Respond to the following prompt in a post with a minimum of 250 words, then comment on at least TWO other posts. Respond to the posts indicating your agreement or disagreement with their position and why. Feel free to bring in additional references to these reply posts.

Find a current news article or video (within the past 12 months) that describes some government intervention in the economy with the intent of controlling prices. Identify the parties who benefit and those who are or will be hurt by this intervention. What unintended consequences will likely or have occurred as a result of this intervention. What is your opinion on this matter? Why? Include your thoughts and the link to the article in your post.

Answers

Government, usually intervene in the foreign exchange market mainly for preventing violent fluctuations in the exchange rate. A foreign currency is sold when it is overvalued and bought when it is undervalued. As the US works to correct its deficit balance of payment account, devaluing the dollar seems like a feasible option. Dollar devaluation will help to increase the demands of American goods in the international market and supports the current policy initiatives.

What is intervention?

Intervention is an act of taking action about something in order to have an effect on its outcome.

Intervention strategies mean a plan for staff action that outlines methods, techniques, cues, programs, or tasks that enable the child to successfully complete a specific goal.

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