User Account

All Pages

What amount should be recorded as impairment loss

Assignment Help Accounting Basics
Reference no: EM132725567

Problem 1: On January 1, 2019, Miklos Company purchased a patent with a cost of P10,400,000 and a useful life of 10 years. On December 31, 2020, the company determined that impairment indicators were present. The FVLCOD of the patent was estimated to be P7,200,000 while the VIU is estimated at P7,600,000. What amount should be recorded as impairment loss for 2020?

Reference no: EM132725567

Questions Cloud

Evaluate what total amount reported as intangible assets : FV of Identifiable net assets of acquired company 8,000,000; Trademark 1,800,000. What total amount should be reported as intangible assets?
Describe porter the six forces : Describe Porter's the six forces that affect the competition level in industry and tell about how these forces define the industrys competition intensity.
Construct a box and whisker plot : Construct a box and whisker plot of the obtained marks. Also check for the presence of outliers and draw stem and leaf plot.
Current selling price of kemper corporation : Annual dividend was just paid. The analyst estimate of the coming year's market return is 10%, T-bill is offering 3% return now. Calculate
What amount should be recorded as impairment loss : The FVLCOD of the patent was estimated to be P7,200,000 while the VIU is estimated at P7,600,000. What amount should be recorded as impairment loss for 2020?
How much is expensed : Training of local employees for production and maintenance operations 2,400,000; Advertising costs 1,700,000. How much is expensed?
Beneficial to use in your work or school setting : What technology do you find most beneficial to use in your work or school setting? Least beneficial? Why do you find this tool useful or not?
What amount should be recorded as depreciation of leasehold : Depreciation expense is taken for the current year. What amount should be recorded as depreciation of leasehold improvement for the current year?
Differences between an incident and a problem : 1) Describe the differences between an incident and a problem. Provide examples.

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