An asset group is being evaluated for an impairment

10. An asset group is being evaluated for an impairment loss. The followinfinancial
information is available for the asset group.
Carrying value : $150,000
Sum of the undiscounted cash flows : $160,000
Fair value : $140,000
What amount of impairment loss, if any, should be recognized?
a. $0
b. $10,000
c. $20,000
d. $30,000
11. BBC, Inc. sells 100 shares of $5 par value treasury stock at $13 per share. If
the cost of acquiring the shares was $10 per share, What amount should the
company record as gain or loss on income statement?
12. A shoe retailer allows customers to return shoes within 90 days of purchase.
The company estimates that 5% of sales will be returned within th 90-day
period. During the month, the company has sales of $200,000 and returns of
sales made in prior months of $5,000. What amount should the company record
as net sales revenue for new sales made during the month?

13. Amy Corp. declared a 7% stock dividend on its 10,000 issued and outstanding
shares of $3 par value common stock, which had a fair value of $6 per share
before the stock dividend was declared. This stock dividend was distributed 90
days after the declaration date. By what amount did Amy's retained earnings
decrease as a result of the stock dividend declaration?