User Account

All Pages

Compute amortization and book value

Assignment Help Accounting Basics
Reference no: EM132636461

Question - In early January 2019, Bramble Corporation applied for a trade name, incurring legal costs of $15,600. In January 2020, Bramble incurred $9,000 of legal fees in a successful defense of its trade name.

Required -

(a) Compute 2019 amortization, 12/31/19 book value, 2020 amortization, and 12/31/20 book value if the company amortizes the trade name over 10 years.

(b) Compute the 2020 amortization and the 12/31/20 book value, assuming that at the beginning of 2020, Bramble determines that the trade name will provide no future benefits beyond December 31, 2023.

Reference no: EM132636461

Questions Cloud

Compute the overtime earnings : Carrie Overwood works fluctuating work schedules. Besides her fixed salary of $1,044 per week, Compute the overtime earnings
What is the journal entry to record the first debt service : Term revenue bonds at 8 percent per annum, interest payable semiannually Total Bonds 3,000,000. What is the journal entry to record the first debt service
Prepare the intangibles section of Wildhorse balance sheet : A patent was purchased from Windsor Company for $1,700,000. Prepare the intangibles section of Wildhorse's balance sheet at December 31, 2020
Explain the reasons bonds would sell at discount : Explain the reasons bonds would sell at discount or at premium. Include advantages and disadvantages of each situation for bond issuers and bond investors
Compute amortization and book value : Compute 2019 amortization, 12/31/19 book value, 2020 amortization, and 12/31/20 book value if the company amortizes the trade name over 10 years
Make entry as of December recording necessary amortization : Blossom Company, organized in 2019, has set up a single account for all intangible assets. Make entry as of December recording necessary amortization
Identify a substantive auditing procedure : Identify a substantive auditing procedure that could detect errors or frauds that could result from the absence or ineffectiveness of the control items
Starbucks case analysis : Starbucks Case Analysis and Application of Strategy Models - Select any case from the following aspects of competitive strategy and apply the theories
Prepare the journal entry to record the redemption : The bonds are callable at 101 (i.e., at 101% of face amount), and on January 2, 2020, Prepare the journal entry to record the redemption

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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