User Account

All Pages

What amount should be recognized for the licence under ASPE

Assignment Help Accounting Basics
Reference no: EM133092256

Question - On April 15, 2020, Rustic Inc. exchanged old equipment for cash and a new licence to produce a new product. The transaction has commercial substance. Information related to this transaction is provided below:

Old equipment:

Original cost - $150,000

Accumulated depreciation to date - $40,000

Fair market value - $125,000

Cash received - $30,000

Fair market value of the licence - $105,000

What amount should be recognized for the licence under ASPE?

Reference no: EM133092256

Questions Cloud

Where should the next disney park be : Where should the next Disney Park be? Pick a city has to be non United States and explain your reasons?
Five dimensions of senrice quality in?uence : Market researchers have identi?ed ?ve principal dimensions that customers use to judge service quality. Customers use these dimensions to make their assessments
How marketers can help consumers : Every purchase is a risk. Show how the decision making processes works to reduce this risk and how marketers can help consumers to overcome the perceived risks.
Evaluating and testing concepts and ideas : You must provide a hypothetical workplace issue and respond to this issue by:
What amount should be recognized for the licence under ASPE : Rustic Inc. exchanged old equipment for cash and a new licence to produce a new product. What amount should be recognized for the licence under ASPE
Four key elements of partnership relationships : Provide an in-depth explanation on four key elements of partnership relationships that help build strategic supply alliances between organizations
Discuss the kotter eight-step change process : Briefly discuss the Kotter's eight-step change process, and then second, apply those eight steps to a personal change/self development
Define racial discrimination : Define racial discrimination, distinguish different ways that racial discrimination occurs in the workplace, consider legal aspects of racial discrimination
Differences between operational and strategic level : Provide detailed description on the differences between operational and strategic level in the monitoring & control stages of the process of operations stra

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