Amazing Dealers Inc. decides to acquire a building to suppor…

Amazing Dealers Inc. decides to acquire a building to support its business expansion. Instead of paying cash, the company issues 15,000 shares of stock with a par value of $10 per share and a fair value of $12 per share. What journal entry should it make to record this transaction? Please format your journal entry following the examples below: Dr. Cash    100,000 Cr.   Accounts Receivable  100,000

Torque Co. has equipment with a carrying amount of $`x`. The…

Torque Co. has equipment with a carrying amount of $`x`. The expected future net cash flows from the equipment are $`y`, and its fair value is $`z`. The equipment is expected to be used in operations in the future. What amount (if any) should Torque report as an impairment loss on the equipment? Please enter the amount of loss without a dollar and/or negative sign or (). For example, if the loss is zero, enter 0. If the loss is 300, then enter 300.