Goodwill impairment Bruceton Farm Equipment Company had goodwill 72 million on its balance sheet at year and review of the wil by the company indicated that the goodwill and walow only worth 45 million What is the financial statement effect of the prodotter the amount of the change, using negove numbers when appropriate

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Answer 1

The financial statement effect of the goodwill impairment for Bruceton Farm Equipment Company would be a decrease in the value of their assets and a decrease in their net income. The amount of the change would be a decrease of $27 million ($72 million - $45 million), which would be reflected as a loss on the income statement

The financial statement effect of the goodwill impairment for Bruceton Farm Equipment Company would be a decrease in the value of their assets and a decrease in their net income. The amount of the change would be a decrease of $27 million ($72 million - $45 million), which would be reflected as a loss on the income statement and a reduction in the goodwill asset on the balance sheet. This would result in a decrease in the company's overall financial position and may have an impact on their ability to obtain financing or attract investors.
regarding goodwill impairment for Bruceton Farm Equipment Company.

To restate your question: Bruceton Farm Equipment Company had goodwill of 72 million on its balance sheet at the year-end. A review by the company indicated that the goodwill is now only worth 45 million. What is the financial statement effect of this change?

Step 1: Determine the goodwill impairment amount
To find the amount of goodwill impairment, you need to subtract the new value of goodwill (45 million) from the original value on the balance sheet (72 million).

Goodwill Impairment = 72 million - 45 million = 27 million

Step 2: Record the goodwill impairment on the financial statement
The financial statement effect of this goodwill impairment is a decrease in the goodwill account by 27 million, which should be reported as an impairment expense on the income statement.

So, the effect on the financial statement for Bruceton Farm Equipment Company is a goodwill impairment expense of 27 million, which reduces the goodwill account on the balance sheet to the new value of 45 million.

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Related Questions

what is a social workers job description?

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social workers help people who are having problems and they help them to overcome them !

Respond with Social media accounts

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Ask the question more specifically, and I will edit this answer and give you the answer.

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what are creative unique products example flying water bottle plz don’t give me actual already made products

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Bluetooth water bottle that is waterproof, scented nail polish, Bluetooth earrings, floating/hovering backpack, voice command journals/note books that listen to speech and apply the words onto itself, and a shirt that changes color to perfectly adjusts itself to look good on you no matter what your undertone is.

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List the participants in the circular flow of a closed economy. Suggest one example for each .​

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The participants in the circular flow of a closed economy are - households, businesses and government.

What is a circular flow model?

The circular flow model shows how money flow in society. Money flows from producers to workers as wages and back to producers as product payment.

Circular flow models in a two-sector model begin with the household sector, which engages in consumption spending. Households contribute to the economy by working (giving time and labour) and purchasing goods (giving away money). In exchange, households buy goods and use government services. The model also incorporates the business sector that manufactures the goods.

Cash flows from the government sector are included in a three-sector model. Through government spending, the government injects money into the circle (G)

Therefore, the participants in the circular flow of a closed economy is listed above and how each of them affects the flow is also mentioned.

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on a glacier with a negative mass balance, the ________ will shrink while the ______ will grow.

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On a glacier with a negative mass balance, the glacier's terminus or front will shrink while the accumulation zone will grow.

The mass balance of a glacier refers to the difference between accumulation (the amount of snow and ice added to the glacier) and ablation (the amount of ice lost through melting, sublimation, or calving). A negative mass balance occurs when the rate of ablation exceeds the rate of accumulation, resulting in a net loss of ice.

As a result, the glacier's terminus, which is the lower end or front of the glacier, will shrink as more ice is lost than gained. On the other hand, the accumulation zone, which is the upper part of the glacier where snow and ice accumulate, will grow as it receives more snowfall and ice buildup.

In summary, on a glacier with a negative mass balance, the terminus will shrink, and the accumulation zone will grow.

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What is Installment credit?
(In your own words, please and thank you!!! :)

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Installment credit is when you borrow a fixed sum of money and agree to make monthly.

Answer:

Explanation:

Installment credit is an important aspect of your credit score because it shows that you can maintain a payment over time. Examples of installment loans are car loans, mortgages, and student loans

It is also called Installment plan it means when you do work and you get credit.

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what features does each financial institutions have

Answers

The financial institutions provide loans and advances to the customers.

The rate of return is very high in case of investment made in this type of institution.

It also gives a high rated consultancy to the customers for their beneficial investments.

It also serve as a depository for their customers.

There are several assumptions that are the basis of the operation of the benchmark competitive labor market. Which of the following is not one of these assumptions? A. Wage rates are costlessly observable. B. All jobs are identical. C. There are no long-term contracts. D. Compensation is made up of wages and benefits.

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The correct answer is D. Compensation is made up of wages and benefits. are several assumptions that are the basis of the operation of the benchmark competitive labor market.

anything provided or obtained as compensation for goods or services, a debt, a loss, an injury, pain, a shortage, etc.; indemnity. He received $2000 from the insurance company as compensation for the loss of his automobile. Compensation may also be given as a reward for outstanding work output. Bonuses, commissions, shares, profit sharing, and gain sharing are a few examples of these schemes.Indemnify, pay, recompense, reimburse, remunerate, return, and satisfy are a few typical synonyms for compensate. Despite the fact that all of these terms refer to "giving money or its equivalent in exchange for something," the word "compensate" indicates making up for provided services.

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An advantage of an intranet-based approach to corporate computing is

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Answer:

D. all of the above

Explanation:

The corporate computing refers to the activity in which the computer is used so that the management, procedures, communication could be maintained in the corporate world

It is the creation of the hardware and the software.

For the intranet based , the following are the advantages

1. Prototyping and the new service deployment

2. Computer architecture

3. Types of media range

Therefore all the above are included

Hey everyone, I just thought you all should know that...
you are AMAZING
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Answer:

thanks lol

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what is the meaning of statistics??​

Answers

Explanation:

1 : a branch of mathematics dealing with the collection, analysis, interpretation, and presentation of masses of numerical data. 2 : a collection of quantitative data.

Answer:

Statistics is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data.

How important is money

Answers

Answer:

very important

Explanation:

money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.

use an interest rate equal to 6% compounded annually to solve this problem: if $20,000 is borrowed for 5 years, what total amount must be paid back?

Answers

The total amount that must be paid back if the interest is compounded annually is $27,098.2.

What is interest?

Interest is a fee charged by lenders to borrowers for use of their money. It is expressed as a percentage of the loan amount and is paid periodically, such as monthly, quarterly or annually. The amount of interest charged depends on several factors, including the credit score of the borrower, the duration of the loan, and the current interest rate in the market. Higher credit scores, shorter loan terms, and lower interest rates all result in lower interest charges. Interest is an important aspect of loans and loans play a crucial role in the functioning of the economy by enabling people and businesses to access the funds they need to grow and expand. Interest can be a cost or a source of income, depending on whether you are borrowing or lending money.

A = $20,000 * (1 + 0.06/1)^(1 * 5)

A = $20,000 * (1.06)^5

A = $20,000 * 1.3449

A = $27,098.2

So, total amount that must be paid back is $27,098.2.

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investment spending includes spending on

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Answer:

Investment spending is spending on goods to produce other goods. Investment spending includes the accumulation of new inventories. It also includes spending by households on new houses. ... Gross investment is the total spending on investment goods.

Explanation:

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The effect acids have on most metals is called _____.
dehydration coating corrosion ionization Automobile batteries contain _____. sulfuric acid hydrochloric acid acetic acid carbonic acid

Answers

Answer:

yes sir uryan

Explanation:

Compared to a short-term investment, what is the general return of a long-term investment? A) A long-term investment has a similar return to a short-term investment.
B) A long-term investment has a greater return because it has greater risk.
C) A long-term investment has a greater return because it has lower risk.
D) A long-term investment has a lower return because it has lower risk.

Compared to a short-term investment, what is the general return of a long-term investment? A) A long-term

Answers

Let understand that "short-term investment" are investments that can be easily converted to cash and has a maturity period of less than a year. Example of this investment are Money Market.

"Long term investment" are investment that runs over a long period of time and yield higher return than the short-term investment". Example of these investment are stocks, bonds, real estate

People invest in "Long term investment" because its offers more risk for higher rewards.

In conclusion, long-term investment has a greater return because it has greater risk.

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Answer:

Compared to short-term investment, what is the general return of long-term investment?

Long-term investment has a similar return to short-term investment.Long-term investment has a greater return because it has greater risk.Long-term investment has a greater return because it has lower risk. <<<CORRECTLong-term investment has a lower return because it has lower risk.

Explanation:

Edge 2022

why do business need funding

Answers

To start up the company. The business would also sell their company’s stocks which is a small percent of the money coming in.

An effective decision maker ensures quality information by: A. Discounting conflicting opinions. B. Defending baseline data from reports received from other sources. C. Validating information to be true and accurate. D. Avoiding secondary sources of information.

Answers

The correct answer is C. Validating information to be true and accurate

Explanation:

The process of making decisions involves analyzing the options available through different sources of information. For example, if you are planning to go on vacation but you have not chosen the destination you can read articles about the best places to visit to take an informed decision.

Besides this, the process of finding and reading information to make a decision involves making sure the information is high-quality information, this can be done by analyzing whether the information in the source is supported, updated and written by an expert in the field, which shows the information is true and accurate and guarantees you have reliable information to make a decision. Thus, an effective decision maker ensures quality information by "validating information to be true and accurate".

In case of a bank failure, the funds of individual depositors are protected by the?

Answers

Federal Deposit Insurance Corporation is the correct answer.

It is a separate government organization established in 1933 with the goal of enhancing public trust in and stability of the country's financial sector.

Every time an FDIC-insured bank or savings organization has collapsed throughout its existence, the FDIC has promptly given bank clients access to their insured accounts.

The FDIC has two roles in the case of a bank failure. First, the FDIC provides depositors with insurance up to a insurance limit in its capacity as that of the insurance of the bank's deposits. Second, the FDIC, acting as the bank's "Receiver," takes on the responsibility of selling or collecting the bank's assets and paying off its debts, particularly claims for deposits that exceed the insured limit.

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Which of the following is not one of the three forms of depreciation used in the cost approach?
a) Physical depreciation
b) Functional depreciation
c) External depreciation
d) Economic depreciation

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The option that is not one of the three forms of depreciation used in the cost approach is "c) External depreciation. "The cost approach is a method of real estate valuation that estimates the cost required to replace a property with an equivalent one.

There are three different forms of depreciation in the cost approach: Physical, Functional, and Economic Depreciation.Physical depreciation refers to the loss of value caused by wear and tear, physical deterioration, and aging of a property.Functional depreciation is the decrease in value caused by the inadequacies of a property's design, materials, and other factors.Economic depreciation is the loss in value caused by external economic factors such as changes in market demand, competition, or land use.

External depreciation is not a form of depreciation used in the cost approach.Therefore, the correct answer is option C - External Depreciation.

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External depreciation is not one of the three forms of depreciation used in the cost approach. The cost approach is a method of property valuation that focuses on the replacement cost of the property and factors in depreciation to estimate its current value.

The three forms of depreciation commonly considered in the cost approach are:

1. Physical depreciation: This refers to the deterioration of the property's physical condition over time. It takes into account factors such as wear and tear, age, and damage that may affect the property's structural integrity or functionality.

2. Functional depreciation: This type of depreciation accounts for changes in the property's functionality or desirability due to outdated design, layout, or features. It considers how well the property meets current market demands and whether any necessary updates or renovations are required.

3. Economic depreciation: Economic depreciation reflects changes in the property's value due to external factors in the surrounding market or neighborhood. It considers aspects such as changes in supply and demand, market trends, location factors, and economic conditions that may impact the property's value.

While physical depreciation, functional depreciation, and economic depreciation are commonly used in the cost approach to property valuation, external depreciation does not fall within this categorization. External factors may have an impact on the property's value, but they are typically considered separately from the specific forms of depreciation used in the cost approach.

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Discuss the likely impact on papua new guinea if its copper and gold mines become exhausted?​

Answers

Answer:

miners might stop making income resulting in a shortage of money thus lowering income in new guinea. The mines will also be turned to landfills. which means more areas to fill with waste and dirty garbage.

Explanation:

if a firm prices low worldwide in an attempt to build global sales volume as rapidly as possible, even it this means taking large losses initially, what kind of strategy is it pursuing?

Answers

Answer: Experience curve pricing

Explanation: The experience curve pricing principle aims to explain the relationship between the unit price of production and marketing and the experience possessed by the marketing and production company or firm on that product. In a bid to acquire more depth in experience in production and marketing, forms tend to sell at prices below the average selling price which may culminate in losses in the early stage

However, with increase in experience in the production and marketing of the product attained as a result of cumulative production, the unit production cost begins to decline.

Suppose the adult population in the country of Candora is 171 million. The number of adults in the labor force is 97 million, and the number of unemployed adults is 74 million. The labor force participation rate in Candora approximately equals _____.

Answers

Answer:

The labor force participation rate in Candora approximately equals 56.72%.

Explanation:

Given that the adult population of Candora is 171 million, of which 97 million are in the workforce and 74 million are unemployed, to obtain the percentage of participation in the workforce of said country we must carry out the following calculation:

171 = 100

97 = X

(97 x 100) / 171 = X

9700/171 = X

56.72 = X

Thus, the percentage of participation in the Candora workforce is 56.72% of the country's adult population, while the remaining 43.28% are unemployed.

two benefits of good customer service

Answers

The buyer will want to come again. The buyer will tell others to buy from there because of the good customer service

If you are interviewed by more than one person, you should send a thank-you note to _____.


each person in the interview

each person you see in the building

the first person you are introduced to

the person who is obviously leading the interview

Answers

Answer:

option A is correct.

i.e.

each person in the interview.

Explanation:

Because thank-you letter provides a simple but effective way to express gratitude to all the individuals you met with.

chegg the essential issue in satisfying customers in the make-to-stock environment is to balance the cost of the finished item against the willingness of the consumer to pay for it.

Answers

The essential issue in satisfying customers in the make-to-stock environment is striking a balance between the cost of the finished item and the willingness of the consumer to pay for it.

In a make-to-stock environment, products are manufactured in advance and held in inventory until a customer makes a purchase. The challenge lies in determining the optimal price for the finished item that aligns with both the production cost and the customer's perceived value.

To satisfy customers, it is crucial to understand their willingness to pay for the product. This willingness is influenced by various factors such as quality, brand reputation, market competition, and customer preferences. By considering these factors, businesses can set a price that reflects the perceived value of the product to the customer.

On the other hand, the cost of the finished item plays a significant role in profitability. This cost includes direct production costs, overhead expenses, and other associated expenses. Balancing the cost of production with the price that customers are willing to pay ensures that the business remains financially viable while meeting customer expectations.

Achieving this balance involves conducting market research, analyzing customer behavior and preferences, monitoring production costs, and adjusting pricing strategies accordingly. It requires a thorough understanding of the target market and a careful evaluation of cost and pricing structures to optimize customer satisfaction and profitability.

Ultimately, in a make-to-stock environment, successfully satisfying customers relies on finding the right equilibrium between the cost of the finished item and the value proposition it offers to customers.

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Match each type of tax with an example of its use.

category 1:
Property Tax
Capitol gains tax
Personal income tax

category 2:

□ 1% charged on the value of a home.

□ 20% charged on wages earned.

□ 2% charged on profits from selling a house.​

Answers

Answer:

Hmm What do you. mean?

Explanation:

Tony works for an organization that raises awareness about environmental
concerns in the community. He wants to make sure his local congressperson
votes for a new law that would make penalties for polluters more severe. He
knows his congressperson really likes a certain restaurant in town, so he's
thinking about getting him a gift certificate for that restaurant. What ethical
dilemma is Tony facing?
O A. Whether to award honoraria to a business leader for reduced
pollution
B. Whether to give a gift to a business leader for reduced pollution
C. Whether to give a gift to a politician while lobbying
O D. Whether to award honoraria to a politician while lobbying

Answers

Answer:

C. Whether to give a gift to a politician while lobbying

I need some help please

I need some help please

Answers

Steps of the Writing Process:

PrewritingResearchDraftingRevisingEditing and Proofreading.

The set of steps authors follow to create a final product is known as the writing process. The writing process has been characterized in a variety of ways by authors, teachers, and theorists, but it often involves prewriting, writing, and post-writing chores. The procedures that most authors follow to produce a polished piece of writing are referred to as the writing process.

Prewriting activities like brainstorming and planning are followed by drafting, revision for content, editing for mechanics, and publication. Writing, however, is more than just a process; it also serves as a gauge of your knowledge and your level of thinking, therefore the process must pause at key stages to allow for measurement.

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You're in your weekiy nmeeting with the team, and you're beginning t Consider the team described in the following situation, and answer the question. You're on a product development team for Kraft Foods. Your team's mission to develop new products targeted at the Hispanic/Latino market. You're in your weekly meeting with the team, and you're beginning to wonder if you'll ever manage to settle on a product. Two of your teammates are proposing an enchilada kit. Another team member thinks Kraft should get into the dessert market and suggests churros. You believe that Mexican-style sauce, mole perhaps, would be a more versatile option. One of the team members has remained silent the entire time. You realize this and ask his opinion.
Which team behavior does this situation describe? Failing to stay on task Encouraging members to participate
Making inappropriate jokes and comments

Answers

The team behavior described in this situation is "Encouraging members to participate".

The team is engaging in a discussion about the development of new products, and some members have put forth ideas for consideration. As a team member, it's important to actively listen to others' perspectives and encourage them to participate in the discussion. In this situation, the team member who has remained silent may have valuable input or concerns to contribute to the decision-making process. By asking for his opinion, the team is demonstrating a willingness to consider all ideas and perspectives, which can lead to a better outcome. Encouraging participation also fosters a sense of teamwork and collaboration, which can increase overall team effectiveness.

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