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Question - On January 1, 2019, A Company's financial statements included the items: a patent of P1,000,000 with related accumulated amortization of P100,000. The patent was purchased on January 1, 2017 at which date the legal life is 10 years. However, as of January 1, 2019, the remaining useful life was determined to be 5 years.
A non-competing agreement reached with a competitor in relation to a trademark the company purchased. A Company paid P250,000 to the competitor in total. It was determined that 40% of this was for the trademark and 60% was for the agreement not to compete for a 3-year period. Further, the company will pay the competitor an agreed amount of P50,000 annually as a result of the contract.
Determine carrying amount of intangible assets as of December 31, 2019.
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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