What is meant by recoverable amount? When are assets to be written down to recoverable amount? What
Question:
What is meant by ‘recoverable amount’? When are assets to be written down to recoverable amount? What must an entity do if it is unable to determine the recoverable amount of an individual asset?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (12 reviews)
Recoverable amount is the higher of an assets fair value less costs to sell and ...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
Question Posted:
Students also viewed these Business questions
-
What is meant by accounts written off?
-
What is meant by the laid-down cost of inventory?
-
What is meant by thinning the assets? Cite examples.
-
The Apache NetBeans IDE is an open-source integrated development environment, and it supports development of all Java application types, which include . a. Java desktop applications b. Mobile and Web...
-
a. Draw resonance contributors for the following species, showing all the lone pairs: 1.CH2N2 2. N2O 3. NO2- b. For each species, indicate the most stable resonance contributor.
-
Builtrite is considering purchasing a new machine that would cost $50,000 and the machine would be depreciated (straight line) down to $0 over its five year life. At the end of five years it is...
-
A cricketer scores the following number of runs in five successive innings: Innings 1 2 3 4 5 Runs 20 20 50 10 0 These can be seen as the marginal number of runs from each innings. Calculate the...
-
Ganville Theater Production Companys partially completed worksheet as of December 31, 2016, follows. Requirements 1. Analyze the worksheet to determine the adjusting entries that account for the...
-
How does having an open door policy within an organization relate to Kotter's change model?
-
Two discrete-time systems T1 and T2 are connected in cascade to form a new system T as shown in figure. Prove or disprove the following statements. (a) If T1 and T2 are linear, than T is linear...
-
Discuss whether and how a company should account for a revaluation increase and a revaluation decrease on property, plant and equipment. Discuss also the accounting treatment if such an increase or...
-
The following statement was included in the annual report of a company: All research, advertising and promotion costs are charged to expense in the year in which they are incurred. This enables the...
-
Without performing detailed calculations, determine the hydrate of Na 2 SO 3 that contains almost exactly 50% H 2 O, by mass.
-
Software tech inc. is planning to buy a new machine and replacing an old machine. Old machine was purchased 10 years ago and is fully depreciated but it can still be used for the next 5 years....
-
You hold a plastic bottle of water upright in your hand, and carefully poke a small hole in the bottom of the bottle with a nail. Assume viscosity can be neglected. Use g = 9.80 m/s 2 . Part A: The...
-
You are needing to find out how much the installment payment might be on a car valued at $35,000. The interest rate on the 10 year installment is 4.75% per year. You will be required to make your...
-
Hawk Corp. had the following transactions in the current year: Short term capital gain $10,000 Short term capital loss -$2,000 Long term capital gain $4,000 Long term capital loss -$15,000 If Hawk...
-
Your company is bidding on a project to construct a new park. Your estimated construction costs are $785,250, not including overhead. Your company marks up all construction costs 8 percent to cover...
-
Beason Manufacturing forecasts its sales next year to be $6 million and expects to earn 5 percent of that amount after taxes. The firm is currently in the process of projecting its financing needs...
-
Global.asax is used for: a. declare application variables O b. all other answers are wrong O c. declare global variables O d. handle application events
-
Wood Incorporated factored $150,000 of accounts receivable with Engram Factors Inc. on a without-recourse basis. Engram assesses a 2% finance charge of the amount of accounts receivable and retains...
-
Wood Incorporated factored $150,000 of accounts receivable with Engram Factors Inc. on a without-recourse basis. Engram assesses a 2% finance charge of the amount of accounts receivable and retains...
-
Wood Incorporated factored $150,000 of accounts receivable with Engram Factors Inc. on a without-recourse basis. Engram assesses a 2% finance charge of the amount of accounts receivable and retains...
-
Identify how the discount charged for discounting notes is reported on the income statement. Deducted from income from opertaions. in the other income and expenses section. as a nonoperating expense....
-
Identify and include your personal responsibilities and accountabilities Identify any barriers to fulfilling task requirements and include ways to manage these Produce a final schedule for...
-
Explain the following terms using the MitchReads data to illustrate your answer di) Independent Events dii) Mutually Exclusive diii) Complement div) Conditional Probability dv) Collectively Exhaustive
Study smarter with the SolutionInn App