Calculate the amount of the loss

Q: Outline the measures used to describe possible loss accurately?

A: The success of a business depends on how accurately they predict future profit or loss arriving…

Q: re for impairment loss assets, what will happen/effect?

A: Impairment Recognition Business assets should be tested for impairment when a situation occurs that…

Q: Net loss will now be:

A: A reduction in provision for doubtful debts is an income to the business.Therefore, it is deducted…

Q: Define Restoration costs.

A: Restoration means the act of renewing or repairing something.

Q: How one can identify the respective Loss Exposures in Risk

A: The degree of uncertainty and/or potential financial loss connected with an investment choice is…

Q: Describe cost depletion and percentage depletion. Whyis the percentage depletion method permitted?

A: Depletion: Depletion is defined as the reduction in the value of natural resources due to its…

Q: Describe the accounting for actuarial gains and losses

A: The answer:

Q: Define Depletion.

A:

Q: a. Calculate the return on investment. (Round your answer to 2 decimal places.) Return on Investment…

A: Return on Investment: It is a measure of performance and profitability that is applied to evaluate…

Q: Define the term Estimated salvage value?

A: Estimated salvage value It is the evaluated book value of an asset after depreciation is finished,…

Q: Define Retirement and replacement depreciation methods.

A: Depreciation means decline in the estimation of benefit inside its valuable life because of mileage…

Q: Loss severity is the expected number of losses that will occur within a given period of time while…

A: Loss severity refers to the potential size or financial damage of a loss, while loss frequency…

Q: When a loss contingency is recognized, where is it reported on the income statement?

A: A financial statement that lists the company's earnings and expenses is called an income statement.…

Q: In Benefit/cost ratio analysis, if the salvage value is used to recover the first cost, it is being…

A: Salvage value is the book value of an asset after all the depreciation is completed.

Q: Describe the Cost of Elimination.

A: Costing System - A costing system is created to keep track of the costs incurred as a result of the…

Q: Explain how to determine the cost of an asset.

A:

Q: Explain the accounting for gain and loss ­contingencies.

A: Contingencies:   Contingency is a situation where the outcome becomes uncertain and is resolved in…

Q: Which assets depreciate?

A: Depreciation means the loss in value of assets because of usage of assets , passage of time or…

Q: Is the nature of the gainor loss considered ordinary or long-term?

A: Ordinary gain or loss means any income which doesn't result as Capital gain or loss. Capital Gain or…

Q: Why put the normal loss costing into the true loss account for abnormal loss?

A: Cost accounting: Cost accounting is a form of managerial accounting that aims to capture a company's…

Q: When is accumulated depreciation reduced to zero? Explain and provide examples for each element…

A: Accumulated depreciation is a contra-asset account that represents the cumulative depreciation…

Q: Explain Amortised cost and how to calculate it.

A: Amortized cost refers to the cost that helps to allocate the cost of financial/intangible assets…

Q: The depletion expense is

A: Depletion: It refers to the process of proportionately distributing the cost of the extracting…

Q: Define Accretion expense.

A: Accretion expense is incurred due to the effluxion of time which is calculated on the basis of…

Q: Explain the basic types of deferred annuities. a. fixed- b. indexed- c. variable- d. longevity-

A: A deferred annuity is a contract with an insurance company that promises to pay the owner a regular…

Q: How to calculate operating loss?

A: A net operating loss is occurred when the gross deductions are more than its total income of the…