The management of petro garcia inc. was discussing whether certain equipment should be written off as a charge to current operations because of obsolescence. this equipment has a cost of $ 2,058,300 with depreciation to date of $ 914,800 as of december 31, 2014. on december 31, 2014, management projected its future net cash flows from this equipment to be $ 686,100 and its fair value to be $ 526,010 .the company intends to use this equipment in the future. prepare the journal entry (if any) to record the impairment at december 31, 2014.at december 31, 2015, the equipment

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The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

Answerdevelopment;