Due to Increased Competition from Low-Cost Foreign Manufacturers,Genevive's Toy Company

question 61

Essay

Due to increased competition from low-cost foreign manufacturers,Genevive's Toy Company is experiencing significant declines in sales.The company produces its toys from an assembly line.The equipment in this assembly line has not been previously revalued or impaired.For the year ending December 31,2016,the controller gathered the following information relating to the assembly line equipment,which is considered to be a cash generating unit:

Required:
Determine whether the assembly line is impaired,and if so,the amount of the impairment.

Understand the role of genetics and environment in personality and psychological disorders.

Distinguish between various psychological disorders and their common treatments.

Learn about therapeutic approaches and their theoretical underpinnings.

Understand the principles behind behavior therapy techniques such as systematic desensitization.

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Definitions:

Wages and Salaries

Wages and Salaries refer to the regular compensation paid to employees for their labor or services in executing their job responsibilities.

Note Payable

A financial obligation or loan evidenced by a promissory note, which requires the borrower to pay back the amount borrowed plus interest.

Incremental Borrowing Rate

The Incremental Borrowing Rate is the interest rate a company would have to pay if it borrows funds, used in lease accounting to measure lease liabilities.

Equipment

Tangible property owned by a business that is used in its operations to generate income.