Presented below is information related to equipment owned by Novak Company at December 31, 2020. Cost $11,250,000
Accumulated depreciation to date 1,250,000
Expected future net cash flows 8,750,000
Fair value 6,000,000

Assume that Novak will continue to use this asset in the future. As of December 31, 2020, the equipment has a remaining useful life of 4 years.

Required:
Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2020.

Precision dyes is analyzing two machines to determine which one it should purchase. the company requires a rate of return of 15 percent and uses straight-line depreciation to a zero book value over the life of its equipment. ignore bonus depreciation. machine a has a cost of $462,000, annual aftertax cash outflows of $46,200, and a four-year life. machine b costs $898,000, has annual aftertax cash outflows of $16,500, and has a seven-year life. whichever machine is purchased will be replaced at the end of its useful life. which machine should the company purchase and how much less is that machine's eac as compared to the other machine's

Asap describe three different expenses associated with restaurants. choose one of these expenses, and discuss how a manager could handle this expense.

Jallouk corporation has two different bonds currently outstanding. bond m has a face value of $50,000 and matures in 20 years. the bond makes no payments for the first six years, then pays $2,100 every six months over the subsequent eight years, and finally pays $2,400 every six months over the last six years. bond n also has a face value of $50,000 and a maturity of 20 years; it makes no coupon payments over the life of the bond. the required return on both these bonds is 10 percent compounded semiannually. what is the current price of bond m and bond n?