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Question -
1. During 2020, the the total training cost to improve the employees' skills were £300,000. In addition, a focus group of other retail banking providers was invited to a conference of the introduction of the new software in 2016. Cost of the conference was £100,000.
2. In 2020, XYZ Ltd acquired another rival Magic Ltd for a total sum of £200 mln. A this date a brand valuation expert valued "Magic" brand at £40 mln on the basis of useful life of 20 years. Other net assets were deemed to have a fair value of £125 mln.
Required - Explain, with reasons, how the costs given above should be treated in the financial statements of XYZ Ltd for year ending 31 Dec 2020 in relation to intangible assets per IAS 38.
Wade's outstanding stock consists of 50,000 shares of cumulative 9.50% preferred stock with a $10 par value and also 125,000 shares of common stock with a $1 par value.
Find the amount of net income to be reported each quarter of the current year, actual results do not vary from the estimates provided,
How are bonds and notes the same? How do they differ?
Below is a list of sample research questions that students may wish to use or adapt for their purposes:i.) What are Fiji Islanders perceptions' of mobile banking services?
Juhaina, an employee at Lulu worked 6 hours on Sunday, 8 hours on Monday, 7 hours on Tuesday, How many hours did she work during the week
Assume the partners have no agreement for sharing profits and losses. Show the journal entry to record the admission of Kang to the partnership.
A woman recently died with only probate assets. Under the term of her will, she left her entire probate estate outright to her husband. The following are relevant facts concerning the estate.
Harvey Company, an SME, acquired a machine on January 1, 2019 for P8,000,000. What is the depreciation expense for the year ended December
Which statements is not true about the use of a normal costing system? Actual overhead costs never flow directly through the inventory accounts.
Evaluate what is the present value of the stream of cash flows below, given an opportunity cost of 12%? Year 1 = P20,000 ; Year 2 = P30,000
Bigham Corporation, an accrual basis calendar year taxpayer, sells its services under 12-month and 24-month contracts. Determine the income to be recognized
Palisade Creek Co. is a merchandising business that uses the perpetual inventory system. The account balances for Palisade Creek Co. as of May 1, 2016 (unless otherwise indicated), are as follows:
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