What is the carrying value of the franchise on December

Assignment Help Financial Accounting
Reference no: EM132885184

Question - Universe company bought a franchise from International Corporation on January 1, 2012 for P4,080,000. An independent consultant retained by Universe estimated that the remaining useful life of the franchise was 20 years. Its unamortized cost on International's books at January 1, 2012 was P1,360,000. Universe decided to amortize the franchise over the maximum period allowed. What is the carrying value of the franchise on December 31, 2014?

Reference no: EM132885184

Questions Cloud

What was the firm actual number of units produced : The manufacturing flex budget variance is $5,000 favorable. What was the firm's actual number of units produced for the year
What does eoq make work for inventory control : How Would You Determine The Numbers To Use In The Eoq Formula? The Kinds Of Reordering Systems That Can Be Used In Inventory Control? When Should Reorders Be Pl
What was the amount of the retiree benefits paid by trustee : What was the amount of the retiree benefits paid by the trustee? The projected benefit obligation was $400 million at the beginning of the year.
What is the yield to maturity for bonds for blue crab inc : The bonds be 15-year to maturity, Blue Crab, Inc. has determined that bonds would sell for $1,185 each. What is the yield to maturity for these bonds?
What is the carrying value of the franchise on December : Universe decided to amortize the franchise over the maximum period allowed. What is the carrying value of the franchise on December 31, 2014
Identify piece of education legislation : Identify a piece of education legislation that was recently passed at the local, state, or federal level
Simulate the transient control response : Simulate the transient control response of the Type-3wind energy conversion system depicted in Fig. 1 of the paper reference
What will discount mart need to accrue on september : What will Discount Mart need to accrue on September 30, assuming that no accrual had been made since the last interest payment?
Calculate the amount of the right-of-use asset : Calculate the amount of the right-of-use asset and lease liability. Round all numbers to the nearest cent. Discuss the nature of the lease to the lessee

Reviews

Write a Review

Financial Accounting Questions & Answers

  Beginning with income from continuing operations before tax

For the year ending December 31, 2016, Micron Corporation had income from continuing operations before taxes of $1,310,000 before considering the following transactions and events. Prepare Micron’s income statement, beginning with income from continu..

  How international financial management requires

How international financial management requires information related to cultural, historical and institutional differences. justify the statement

  Provide sufficient citations throughout and matching

Identify three database systems and discuss the purpose for choosing these three options.

  Explain casinos prepaid rent is considered a revenue expense

Explain With reference to relevant legislation and case law discuss whether casinos prepaid rent is considered a revenue expense or a capital expense.

  Variable and direct fix cost basic exam variable cost

What is the fee schedule for these service assuming goal to cover only one variable and direct fix cost basic exam variable cost $5 annual direct fix cost 50,000 annual number of visits, advance exam 7 annual direct fix cost 30,000 annual number ..

  What concerns does the research raise

The last observed 10-year government bond yield was 2%. What concerns does the research raise in regards to dividend valuation models

  Compute avoidable interest for Kingbird Company

Expenditures were $3,960,000 on March 1, $2,640,000 on June 1, and $6,600,000 on December 31. Compute avoidable interest for Kingbird Company

  Advantage of a stock repurchase

Which of these factors are considered an advantage of a stock repurchase? Check all that apply and are true advantages

  What amount should acme record the building cost

Acme purchased a property that included both land and a building for $200,000. Acme hired an appraiser who determined that the market value of the land was $140,000 and the market value of the building was $50,000. At what amount should Acme record t..

  Reviewing the internal controls of the computer system

As an internal auditor for the Quick Manufacturing Company, you are participating in the audit of the company’s AIS. You have been reviewing the internal controls of the computer system that processes most of its accounting applications. You have stu..

  How much after tax operating cash flow

How much after tax operating cash flow should the project earn annually (equal annual earnings) during years 6 to 10 to have an NPV of 10 Million

  What is the market risk premium

The returns of Stock's X, Y and Z are positively, but not perfectly, correlated. Risk-free rate is 5.2% and the market is in equilibrium (required return = expected return), What is the Market risk premium

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd