Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. use the information below to answer the required q

Use the information below to answer the required question INFORMATION XUZ Ltd purchased a...

60.1K

Verified Solution

Question

Accounting

Use the information below to answer the required question

INFORMATION XUZ Ltd purchased a building on 1 October 2021. The following costs were incurred: Original purchase price R4 620 000 Admin and overhead R 225 000 Transfer/Legal fees R 300 000 The building had a residual value of R400 000 and an estimated useful life of 20 years On 31 December 2021, the fair value was R445 000, costs to sell R100 000 and restructuring costs R125 000 and the value in use was R425 000. Assume a tax rate of 28 %

REQUIRED: Calculate the impairment loss for the year ended 31 December 2021

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Describe electronegativity and relate it to the bonds water makes.

Chemistry
Q

a. You start a culture of stem cells and you use a protocol to differentiate them...

Biology
Q

A 2000 kg solid cube with sides that are 30 cm is rotating around an...

Physics
Q

complete this problem Use the following graph to find y when x 6 Q Ay...

Basic Math
Q

Nathan, a registered nurse, is working on an admissions essay for a BSN program.Select the...

Basic Math
Q

The net of a cylinder is made up of what two-dimensional figures?two circles and one...

Basic Math
Q

Find the percent change to the nearest percent: 200 students to 456 students.

Algebra
Q

Dinham Kennel uses tenant-days as its measure of...

Accounting
Q

Please Help me !!! Bundaberg Glass Company is a distributor of car windscreens. The windscreens...

Accounting
Q

The owner of Shrek Toys has recently expanded his business in order to add an...

Accounting
Q

QUESTION 9 How many of the following statements are true if Hennie's analysis involves drawing...

Finance
Q

The opportunity cost of making a component part in a factory with no excess capacity...

Accounting