User Account

All Pages

Compute the Loss on impairment on January

Assignment Help Accounting Basics
Reference no: EM132832392

Question - A license is acquired by CAN Company on July 1, 2015, for P 450,000; while it has a legal life of 15 years, due to rapidly changing environment, management estimates a useful life of only 5 years. Straight-line amortization will be used. At January 1, 2016, management estimated that the recoverable amount of the license is only P 135,000. Amortization will be taken over 3 years from that point. On January 1, 2018, due to the change in the general economic situations, the license now has a fair value of P 540,000. The entity adopted the revaluation model to measure the license starting January 1, 2018. The estimated remaining useful life is now believed to be 5 years.

Compute: (1) Loss on impairment on January 1, 2016, (2) Gain on impairment recovery in 2018, and (3) Revaluation surplus on January 1, 2018.

Reference no: EM132832392

Questions Cloud

Learn search engine optimization with smart internet : SEO 2020 Learn Search Engine Optimization with Smart Internet Marketing Strategies
How might the rediscovery of the group be beneficial : Review the recognized groups of victims in the Crime Victims text. Add to this list by identifying of group of victims of illegal activities who have still not.
Current process for accessing filter parts : Your purchasing department does not want to buy adjustable hydraulic pallet stands for the filter assembly line at a company that makes oil filters for cars and
Which is a permitted free offering : Which if the statements concerning an agreement of sale prepared by a licensee in accordance with New Jersey License Law is correct?
Compute the Loss on impairment on January : Compute: (1) Loss on impairment on January 1, 2016, (2) Gain on impairment recovery in 2018, and (3) Revaluation surplus on January 1, 2018
Which of the minimum sized lots should be purchased : A national company desires a parcel of land. If the building design includes 20,000 square feet, then which of the minimum sized lots should be purchased?
What will sally yearly principal and interest payment total : What will Sally's yearly principal and interest payment total (round up)? Sally is purchasing a $400,000 home and the lender has approved her for a $320,000
Solve the projected new balance for the allowance : Solve the projected new balance for the allowance for uncollectible accounts and the bad debts expense. The Miller Company's accounts receivable reveal
Discuss the different levels of capacity planning : Discuss the different levels of capacity planning as they relate to the planning hierarchy. What are the inputs and outputs at each level?

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