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Question: IAS 38 Intangible Assets1. The $357,000 cost of a new stock management software package.
Anderson Gadd owns and operates a number of restaurants, half of which are operated under franchise from a global company Allied Restaurant Company ("ARC"). Anderson Gadd has incurred the following expenses in the year ended 31 July 2020 and wishes to know which can be recognised as intangible assets in the statement of financial position:
2. Franchise fees of $250,000 paid to ARC for the use of the trading name 'Cowabunga' for a new outlet.
3. Training costs amounting to $130,000 for staff at the new Cowabunga outlet.
4. Advertising costs of $75,000 incurred prior to the opening of the new Cowabunga outlet.
Required: Prepare the journal entries for Anderson Gadd regarding the above transactions for the year ended 31 July 2020.
Costs of quality, quality improvement. iCover produces bags for carrying laptop computers. iCover sells 1,000,000 units each year at a price of $20 per unit.
If Bob takes an improper deduction for $10,000 by mistake because he misunderstood the tax law, and Jane knowingly takes a $10,000 improper deduction.
Prepare the general journal entries (bugetary and actual) to record the following transaction of the Quinones County General Fund
What are the key requirements of financial services industry legislation relating to information privacy when using computerised accounting systems
natural care corp. a distributor of natural cosmetics is ready to begin its third quarter in which peak sales occur.
What is activity-based costing? What are some of the key elements of activity-based costing? How does this method differ from a more traditional costing method? Do you prefer ABC over traditional costing methods?
Eddie Corporation made the first payment but did not make any other payments. How should Nancy Corporation account for forfeited payment
aviss taxable income for the year is 300000 and bests taxable income for the year is 425000. for each of the scenarios
The following information was drawn from the annual report of Active Wilderness Adventures (AWA).
Donaldson Incorporated sold $500,000 of 12% bonds on January 1, 2009, for $470,143.47, Prepare an interest expense and discount amortization schedule
On October 10, the land was assessed at a value of $173,000 for property tax purposes. On February 5 of the next year, McCade Repair Service was offered $184,000 for the land by a national retail chain.
Determine the weighted-average number of shares that Melton Corporation would use in calculating earnings per share for the fiscal year ended
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