User Account

All Pages

Calculate the total amount for Pharoah

Assignment Help Accounting Basics
Reference no: EM132614205

Question - Pharoah Electric Inc. has the following amounts included in its general ledger at December 31, 2020:

Organization costs $34,500

Purchased trademarks 18,000

Development phase activities (meet all six development phase criteria) 29,900

Deposits with advertising agency for ads to promote goodwill of company 8,400

Excess of cost over fair value of identifiable net assets of acquired subsidiary 81,300

Cost of equipment acquired for research and development projects; the equipment has an alternative future use 124,400

Costs of researching a secret formula for a product that is expected to be marketed for at least 20 years 74,500

Payment for a favourable lease; lease term of 10 years 16,000

Required - Based on the information provided, calculate the total amount for Pharoah to report as intangible assets on its statement of financial position at December 31, 2020. Assume Pharoah uses IFRS to prepare its financial statements.

Reference no: EM132614205

Questions Cloud

What do remember most about the fundamentals of assurance : What do remember most about the Fundamentals of Assurance Services/Assurance Engagements of Internal Auditing (Auditing and Assurance Principles)
Record series transactions in the general journal of Sleek : Record this series of transactions in the general journal of Hip Pants. Record this series transactions in the general journal of Sleek
Find what quarterly payments are required on the loan : Mr. Bean, What quarterly payments are required on the loan? what will be the balance owed on the loan at the start of the third year?
Which is the auditor ultimate defence : Which the auditor's ultimate defence where conflicts are sufficiently great so as to compromise objectivity is? the working papers.
Calculate the total amount for Pharoah : Calculate the total amount for Pharoah to report as intangible assets on its statement of financial position at December 31, 2020
When are substantial unpaid fees outstanding : When are substantial unpaid fees outstanding from previous audit work? the auditor should seek removal from office./ the audit opinion should be withheld.
Compute the cost of goods sold for the two weeks : Compute the cost of goods sold for the two weeks of January assuming use of the periodic systems. (Use your answer to part d as the ending inventory.)
Define connection between stereotypes and racial profiling : Define racial profiling. What is the connection between stereotypes and racial profiling? What are some of the consequences of racial profiling discussed.
Why do feel the knowledge is important : The understanding of economics is tested in the BEC section of the CPA exam. Why do you feel this knowledge is important? Explain in detail.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much tax does she save by using the alternative selected

Should Wendy claim the income exclusion or tax credit and how much tax does she save by using the alternative selected

  Considering that financial statements are used for

considering that financial statements are used for management decisions andor by external users how do accountants

  The pass company uses a process costing system all

the pass company uses a process costing system. all materials are added at the start of the production process and

  What is the customer profit

A company estimates that ordering costs are $2.00 per order, picking costs are $1.00 per unique item ordered, packing costs are $0.07 per item, and return costs are $40.00 per return.

  Null and alternative hypotheses used to test

For this assignment, we are interested in finding out whether participation in a creative writing course results in increased scores of a creativity assessment. For this part of the activity, you will be using the data file "Activity 4a.sav". In ..

  Find a line item listed on either the income statement or

find a line item listed on either the income statement or balance sheet of nike inc. that would indicate an adjusting

  Recompute and prepare the departmental income statements

Recompute and prepare the departmental income statements (including a combined total column) for the company under each of the following separate scenarios.

  Does an IRR analysis suggest accepting this project

A project has cash flows of -$70,000 in the first year, If you are facing a cost of capital of 10.0%, does an IRR analysis suggest accepting this project

  Calculate the target cost per unit of the new toaster

Target Costing H. Banks Company would like to design, produce, and sell versatile toasters for the home kitchen market. The toaster will have four slots.

  Prepare the stockholders equity section

Prepare the stockholders equity section immediately after the stock dividend - Section of Zacman Companys balance sheet

  Calculate the allocation rates for each cost pool

ACCT20076 Practical and Written Assessment - Calculate the allocation rates for each cost pool and cost driver. Interpret the allocation rate for each cost pool

  What is the weighted-average number of shares

Given this information, what is the weighted-average number of shares that Shoemaker should use for earnings per share purposes

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd