Choice Utechonline Timelet 3 22 Estion After Several Years Of Significant Operational Challenges The Management Of Brus 1 (45.1 KiB) Viewed 20 times
Choice Utechonline Timelet 3 22 Estion After Several Years Of Significant Operational Challenges The Management Of Brus 2 (55.3 KiB) Viewed 20 times
choice UTECHONLINE Timelet 3.22 estion After several years of significant operational challenges, the management of Brush Ltd took the decision to discontinut one of its string divisions The division sets had a cost and accumulated depreciation of 5461.3 million and $228.7 million respectively. As part of the discontinuation, said assets were sold for $241.4 million In addition to the sale the entity also incurred redundancy costs of $79.6 million. The now discontinued operation made a loss of $304 million before accounting for the cost of redundancies and sale of its assets above The acciated taes have already been accounted for, however, the total net effect of the discontinued operation was incorrectly reflected in the distribution costsociated with continuing operations For the period ended March 31, 2022the rest of the company reported revenues of $988.6 million. It also reported cost of sales istrative expenses and distribution costs of 54073 million, 5316.9 million and $167. respectively Total finance cost for the period amounted to 5834 million and the tax rate stands M 25% Required - Calculate the profit or fons arising from the discontinued operation Shw the journal entry required to correct the incorrect reflection of the vet effect of the discontinued operation • Prepare the company's statement of protadions for the year endine March 31.2022 reflecting the continuing operations wingside the met elfect of the continued operation Hecommended time 25 minutes :الالالالال 8 - D G
13) - Avast Secure Browser heutech.edujm/mod/quiz/attempt.php?attempt=94898&cmid=75433 UTECHONLINE laplamaica Online Time left 3:39:28 Litterbug Ltd bought a machine on January 1, 2018, incurring a purchase price of $15.8 million in addition to freight and installation costs of $1.6 million. At the date of purchase the machine had an estimated useful life of ten years, and was to be depreciated using a straight-line basis to a nil residual value. However, due to major operational changes, the company's management commenced processes to sell the machine so a new one could be purchased. The sale was deemed highly probable effective August 31, 2021, when a buyer was identified. The machine has a fair value of $10.1 million, with disposal costs amounting to $0.6 million Required: Show the carrying value of the asset as at the date of its reclassification • Calculate the impairment loss on the asset resulting from the reclassification Prepare the relevant financial statements extracts for the year ending December 31, 2021. Recommended time: 25 minutes 2 A- B 1 I!! III H HI % ? thp 2 ** 00 4- 4+ To 149 19 D bb
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