In the journal entry, we debit the impairment loss account or expense account and credit in the corresponding asset. For this example, the journal entry would be: Indicators of Impairment These are signs that help companies determine when to impair their assets. It usually happens when the carry...
need to be written off within a certain period. The first step is to charge an estimated amount of accounts receivable to bad debt expense. Next, you debit the bad debt expense with the estimated write-off amount. Finally, you credit that same amount to the bad debt provision contra ...
A debit entry is made to "Loss from Impairment," which will appear on the income statement as a reduction of net income, in the amount of $50,000 ($150,000 book value – $100,000 calculated fair value). As part of the same entry, a $50,000 credit is also made to the building'...
At 31/2007 do we also debit revaluation surplus for 25 and credit retained earning for 25? If so, why oic is not 350? Thanks in advance Log in to Reply
‘barter’ system, it would be reasonable to assume that both sides of the exchange-trade were prudently applying the basics of Risk Management viz. No loss or low loss. The extent of loss, whatever it may be, should 当没有风险管理的正式文献以经济活动的原始形式象`以货易货’系统时,假设...
Debit Profit or loss – Impairment of assets: CU 9 000 Credit Goodwill: CU 5 000 Credit Buildings: CU 2 817 Credit Equipment: CU 845 Credit Other assets: CU 338 Note – you need to allocate the impairment loss to the individual assets, so in fact, you are crediting some specific build...
or: Dr:Income tax expenses Cr:Deferred tax liability 2.连续编制合并财务报表 Continuous preparation of the consolidated financial statements 1)抵消期初结存的内部购入存货价值中包含的未实现内部销售损益 Offsetting of the unrealized internal sales profit and loss incl...
They had long been using internet banking, but more recently made efforts to downsize the activity by shifting to direct debit and electronic invoices to make the payment of bills less complicated. As this shift included incorporat- ing new simplifying services, it added an updating qual- ity ...