Please explain how you derived the numbers.

Formula and explanation.

Thanks

Question 2 [60 points] Holden Corp. completed all of its April 30, 2015, adjustments in preparation for preparing its financial statements, which resulted in the following adjusted trial balance. a) Prepare the entry (entries) to record any impairment losses at April 30, 2015. Assume the company recorded no impairment losses in previous years. Enter an appropriate description when entering the Adjusted Trial Balance $4,800 transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). For each journal entry, indicate how each account affects the balance sheet (Assets, Liabilities, Accounts payable. Equity). Use + for increase and - for decrease. For example, if an account decreases equity, choose '-Equity'. Accounts receivable 9,100 Accumulated depreciation, building 35,000 General Journal Page GJ1 Effect On Accumulated depreciation, equipment.. 17,000 Date Account/Explanation F Debit Credit Balance Sheet Accumulated depreciation, furniture 9,800 Allowance for doubtful accounts.. 380 Building.. 64,000 Cash.. 4,970 Equipment 44,000 Expenses, including cost of goods sold 345,000 Furniture 20,000 Share capital.. 29,400 Land 47,000 Merchandise inventory.. 15,700 Long-term notes payable 37,000 Retained earnings 39,000 Sales 373,760 Unearned revenue.. 3,630 1) All accounts have normal balances. 2) $12, 100 of the note payable balance is due by April 30, 2016 b) Prepare a classified balance sheet at April 30, 2015. The final task in the year-end process was to assess Holden Corp. the assets for impairment, which resulted in the following schedule. Balance Sheet April 30, 2015 Asset Recoverable Value Land $48, 100 + + 4 X Building.. 32, 100 X LK Equipment 25,000 Furniture.. 11,300 X NH FAX X x X! X