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Question : 111. Adams Company’s balance sheet shows a trade name acquired as : 1230673

Accounting

 

 

111. Adams Company’s balance sheet shows a trade name acquired as part of a business combination with a carrying value of $30 million. The trade name has an indefinite life and therefore Adams does not amortize it. Negative publicity regarding the product carrying the trade name has reduced its fair value to $24 million and its value in use to $22 million. The entry is as follows:  
A. Loss on Impairment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 8,000,000
   Trade Name . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . 8,000,000
B. Loss on Impairment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 6,000,000
   Trade Name . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . 6,000,000
C. Loss on Impairment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 4,000,000
   Trade Name . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . 4,000,000
D. Trade Name . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 6,000,000
   Loss on Impairment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000,000
E. Trade Name . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 8,000,000
   Loss on Impairment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,000,000

 

112. Bush Company’s balance sheet shows a trade name acquired as part of a business combination with a carrying value of $60 million. The trade name has an indefinite life and therefore Bush does not amortize it. Negative publicity regarding the product carrying the trade name has reduced its fair value to $48 million and its value in use to $44 million. The entry is as follows:  
A. Loss on Impairment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,000,000
   Trade Name . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,000,000
B. Loss on Impairment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . .12,000,000
   Trade Name . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . . . . . . . . . . . . 12,000,000
C. Loss on Impairment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,000,000
   Trade Name . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . 8,000,000
D. Trade Name . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 12,000,000
   Loss on Impairment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,000,000
E. Trade Name . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 16,000,000
   Loss on Impairment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  .16,000,000

 

113. U.S. GAAP or IFRS require firms to test 
A. annually for impairment losses on goodwill.
B. whenever there is an indication of impairment due to changes in the legal or economic climate.
C. whenever there is an indication of impairment due to adverse regulatory conditions.
D. whenever there is an indication of impairment due to loss of key personnel.
E. all of the above

 

114. Taylor Company office equipment costs $10,000, has an expected life of four years and a salvage value of $400. The firm has depreciated this asset on a straight-line basis. The firm has recorded depreciation for two years and sells the equipment at midyear in the third year.

What is the entry to record depreciation charges up to the date of sale. 
A. Depreciation Expense  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200    
   Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200
B. Depreciation Expense  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,400    
   Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,400
C. Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200
   Depreciation Expense  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200    
D. Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,400
   Depreciation Expense  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,400    
E. Salvage Value   . . . .  . . .  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200    
   Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200

 

115. Taylor Company office equipment costs $10,000, has an expected life of four years and a salvage value of $400. The firm has depreciated this asset on a straight-line basis. The firm has recorded depreciation for two years and sells the equipment at midyear in the third year.

If the firm sells the equipment for cash at 4,000, the entry to record the sale would be as follows:  
A. Cash . . . . . . . . . . . . . . . . . . . . . . . .  . . . . . . . . . . . . . . . . . . . . . . . . . .4,000 
Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  6,000 
   Equipment   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .  10,000 
B. Cash . . . . . . . . . . . . . . . . . . . . . . . .  . . . . . . . . . . . . . . . . . . . . . . . . . .6,000 
Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  4,000 
   Equipment   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .  10,000 
C. Equipment   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10,000
   Cash . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . . . . . . . . . . . . . . . . . . . . . . . . .    4,000 
   Accumulated Depreciation .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000 
D. Equipment   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10,000
   Cash . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . . . . . . . . . . . . . . . . . . . . . . . . .    6,000 
   Accumulated Depreciation .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,000 
E. Equipment   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10,000
   Cash . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . . . . . . . . . . . . . . . . . . . . . . . . .   6,000 
   Salvage Value  .  .  .  .  .  .  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  4,000 

 

116. Taylor Company office equipment costs $10,000, has an expected life of four years and a salvage value of $400. The firm has depreciated this asset on a straight-line basis. The firm has recorded depreciation for two years and sells the equipment at midyear in the third year.

If the firm sells the equipment for $4,600 cash, the entry to record the sale would be as follows:  
A. Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   4,600
Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6,000
   Equipment  . . . . . . . . . . . . . . . . . . . . . . . . .  . . . . . . . . . . . . . . . . . . . . . . 10,000
   Gain on Sale of Equipment  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . . .  600
B. Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   4,600
Salvage Value  . .   . .   . .   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000
   Equipment  . . . . . . . . . . . . . . . . . . . . . . . . .  . . . . . . . . . . . . . . . . . . . . . . 10,000
   Gain on Sale of Equipment  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . . .  600
C. Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   4,600
Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6,000
   Equipment  . . . . . . . . . . . . . . . . . . . . . . . . .  . . . . . . . . . . . . . . . . . . . . . . 10,000
   Salvage Value  . . .  . .  . .  . .  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . . .  600
D. Equipment  . . . . . . . . . . . . . . . . . . . . . . . . .  . . . . . . . . . . . . . . . . . .  10,000
Gain on Sale of Equipment  . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . . . 600
   Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  . .     4,600
   Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . .6,000
E. Equipment  . . . . . . . . . . . . . . . . . . . . . . . . .  . . . . . . . . . . . . . . . . . .  10,000
Salvage Value  . . . . . . . . .  . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . . .  600
   Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  . .     4,600
   Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . .6,000

 

117. Taylor Company office equipment costs $10,000, has an expected life of four years and a salvage value of $400. The firm has depreciated this asset on a straight-line basis. The firm has recorded depreciation for two years and sells the equipment at midyear in the third year.

If the firm sells the equipment for $3,000 cash, the entry to record the sale would be as follows:  
A. Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   3,000
Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6,000
Loss on Sale of Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1,000
   Equipment  . . . . . . . . . . . . . . . . . . . . . . . . .  . . . . . . . . . . . . . . . . . . . . . . 10,000
B. Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   3,000
Salvage Value  . .   . .   . .   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000
Loss on Sale of Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000     
   Equipment  . . . . . . . . . . . . . . . . . . . . . . . . .  . . . . . . . . . . . . . . . . . . . . . . 10,000
C. Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   3,000
Salvage Value  . . . . . . . . .  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6,000
Loss on Sale of Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000       
   Equipment  . . . . . . . . . . . . . . . . . . . . . . . . .  . . . . . . . . . . . . . . . . . . . . . . 10,000
D. Equipment  . . . . . . . . . . . . . . . . . . . . . . . . .  . . . . . . . . . . . . . . . . . .  10,000
   Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . .   3,000
   Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . .6,000
   Loss on Sale of Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000  
E. Equipment  . . . . . . . . . . . . . . . . . . . . . . . . .  . . . . . . . . . . . . . . . . . .  10,000
   Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . .   3,000
   Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  . . .6,000
   Loss on Sale of Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000  

 

118. Which of the following is true regarding asset abandonment? 
A. Firms will sometimes abandon assets if there is no market for the asset.
B. The firm eliminates the carrying value of the asset and recognizes a loss in an amount equal to the carrying value.
C. Firms will sometimes abandon assets if an automobile is severely damaged in an accident
D. Firms will sometimes abandon assets if a machine requires an overhaul that is not cost effective.
E. all of the above

 

119. A firm may retire an asset from service by trading it in on a new asset. U.S. GAAP and IFRS require that firms record trade-in transactions at _____ unless they lack commercial substance. 
A. present value of future cash flows
B. replacement value
C. liquidation value
D. fair value
E. undiscounted cash flows

 

120. A firm may retire an asset from service by trading it in on a new asset. U.S. GAAP and IFRS require that firms record a trade-in that lacks commercial substance at 
A. present value of future cash flows.
B. replacement value.
C. liquidation value.
D. the carrying value of the exchanged asset.
E. undiscounted cash flows.

 

 

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Write a 1,400- to 1,750-word paper that demonstrates an example of poor intercultural communication that significantly affected international commerce or foreign policy.

Illustrate the lack of intercultural communication by clearly defining cultural patterns (theories, identity, and bias, for example) and communication devices (such as communication foundations and taxonomies) between two cultures. Select one or two intercultural communication theories needed to address and possibly resolve the example you have given.

Include answers to the following questions in your paper:

  • How do the two countries differ in their cultural patterns? How does communication play a role in each culture?
  • What communication devices were used by both parties in this example?
  • How did these devices work or not work in this particular intercultural communication example?
  • What key intercultural communication theorist would you enlist to help solve this intercultural communication problem? Summarize the position of your selected theorist and explain how their ideas might apply to the situation.
  • What approaches or theories may work to resolve your poor intercultural communication example?

Utilize at least two external peer-reviewed sources.

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July 1, 2023
    

 

Write a 1,400- to 1,750-word paper that demonstrates an example of poor intercultural communication that significantly affected international commerce or foreign policy.

Illustrate the lack of intercultural communication by clearly defining cultural patterns (theories, identity, and bias, for example) and communication devices (such as communication foundations and taxonomies) between two cultures. Select one or two intercultural communication theories needed to address and possibly resolve the example you have given.

Include answers to the following questions in your paper:

  • How do the two countries differ in their cultural patterns? How does communication play a role in each culture?
  • What communication devices were used by both parties in this example?
  • How did these devices work or not work in this particular intercultural communication example?
  • What key intercultural communication theorist would you enlist to help solve this intercultural communication problem? Summarize the position of your selected theorist and explain how their ideas might apply to the situation.
  • What approaches or theories may work to resolve your poor intercultural communication example?

Utilize at least two external peer-reviewed sources.

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July 1, 2023
    

 

Write a 1,400- to 1,750-word paper that demonstrates an example of poor intercultural communication that significantly affected international commerce or foreign policy.

Illustrate the lack of intercultural communication by clearly defining cultural patterns (theories, identity, and bias, for example) and communication devices (such as communication foundations and taxonomies) between two cultures. Select one or two intercultural communication theories needed to address and possibly resolve the example you have given.

Include answers to the following questions in your paper:

  • How do the two countries differ in their cultural patterns? How does communication play a role in each culture?
  • What communication devices were used by both parties in this example?
  • How did these devices work or not work in this particular intercultural communication example?
  • What key intercultural communication theorist would you enlist to help solve this intercultural communication problem? Summarize the position of your selected theorist and explain how their ideas might apply to the situation.
  • What approaches or theories may work to resolve your poor intercultural communication example?

Utilize at least two external peer-reviewed sources.

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Economics, 5 pages
Essay (any type)
August 5, 2021
    

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customer #17823
Human Resource Management, 2 pages
Research paper
August 5, 2021
    

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Public Relations, 3 pages
Dissertation
August 5, 2021
    

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Journal article, 20 pages
Coursework
August 5, 2021
    

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Political Science, 6 pages
Admission Essay
August 5, 2021
    

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Tourism, 1 page
Discussion Essay
August 5, 2021
    

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Philosophy, 5 pages
Report
August 5, 2021
    

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Psychology, 4 pages
Essay (any type)
August 5, 2021
    

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customer #17823
Business, 8 pages

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

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Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

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Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

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By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

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