Reference no: EM132778256
The accounting records of all Intangibles of All Men Company are just placed in one account. The following were recorded to the accounting on 2018 and 2019.
DATE
PARTICULARS
AMOUNT
2018
July 1 Franchise (Indefinite Terms) 1,260,000
October 1 Lease advance payment (2-year term, starting today) 840,000
December 31 Net loss, including incorporation fees, P 30,000; and related legal fees of organizing the business 480,000
2019
January 2 Purchased Patent (10- year life) 2,220,000
March 1 Cost of developing a recipe 2,250,000
April 1 Purchased Goodwill 8,352,000
July 1 Legal fees for successfully defending the patent purchased above 379,500
Other Notes
- On December 31, 2018, the management estimate that the annual net future cash flows from the franchise's continued use was at P 180,000. On December 31, 2019, this estimate was revised due to the decline of product demand to P 150,000 annually.
- On December 31, 2019, the estimated annual future cash flow of the patent's continued use was at P 337,822 for the remaining life.
Problem 1: The prevailing market rate of interest as of December 31, 2018 and 2019 was consistent at 12% What is the carrying value of the Franchise as of December 31, 2019?
|
Which notes receivable discounted is presented in balance
: Which Notes receivable discounted is presented in the balance sheet as?Which item shall be added to the principal amount of loan to determine its carrying value
|
|
How much cash Quito should receive
: After paying the liabilities amounting to P60,000, they have P222,000 to divide. How much cash Quito should receive
|
|
Discuss whether we really need rfid protection
: This week we will look at a technology that affects most of us and also is wide-ranging, but goes unnoticed by many people. That technology is radio frequency.
|
|
What the note receivable discounted account shall be
: A note receivable bearing a reasonable,If the sale is accounted as conditional sale, at the date of discounting, the note receivable discounted account shall be
|
|
What is the carrying value of the franchise as of december
: What is the carrying value of the Franchise as of December 31, 2019? The accounting records of all Intangibles of All Men Company are just placed
|
|
Research the trends and prevalence of disability categories
: Research the trends and prevalence of disability categories being served in Missouri and describe them.
|
|
Prepare all journal entries related to the for the years
: Prepare all journal entries related to the above for the years ended December 31, 20x3 and December 31, 20x4
|
|
Are children game choices influenced by parents
: Are children's game choices influenced by parents, the media, or friends, and why? And the child, what are his choices for the games, especially since the child
|
|
What is the potential for a dual relationship
: What is the potential for a dual relationship or boundary crossing during clinical supervision?
|