Use the Following Information for Questions

question 35

Short Answer

Use the following information for questions
Pierre's Pet Shop Limited bought new grooming equipment on January 1, 2012 for $13,000. The useful life is estimated to be 3 years with a residual value of $1,000. The company uses straight-line depreciation. On January 1, 2013, Pierre determined that the value of the equipment is impaired, as its recoverable amount is expected to be $4,800.
-The journal entry to record the impairment would involve debits and credits to the following accounts:

Recognize the importance and elements of accountability in nursing.

Describe the factors influencing the delegation decisions of RNs to UCPs.

Understand challenges faced by nursing managers and strategies to address them.

Learn priority setting in nursing care and its application.

---

Definitions:

Balance Sheet Debit

An entry on the left side of a balance sheet, typically indicating an increase in assets or a decrease in liabilities or equity.

Net Income

Profits after subtracting all costs, including operating expenses, interest, and taxes, from total revenue, indicating the final earning outcome of a business.

Adjusted Trial Balance

A financial report that lists all the account titles and balances of a company after adjusting entries are made, used for the preparation of financial statements.

Unadjusted Trial Balance

A preliminary report in accounting that lists all the balances from all the accounts before any end-of-period adjustments are made.