Question $28$

$1$ pts

Cullumber, inc. fair value is now only $$363,000.$ The entry to record the loss on impairment is

Retained Earnings $217,000$

Accumulated Depreciation$-$Equipment $217,000$

Loss on Impairment $217000$ Accumulated Depreciation$-$Equipment $217000$

Loss on Impairment $,217,000$

Accumulated Depreciation$-$Equipment $217,000$

Retained Earnings $,217,000$

Accumulated Depreciation$-$Equipment $217,000$

Question $29$

$1$ pts

received two days after the inventory count. Concord also had $$87,000$ of goods out on consignment. What amount should Concord report as inventory at the end of the year?

$$858,000$

$$781,000$

$$927\mathrm{.}500$

$$868\mathrm{.}000$