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Question - At the beginning of current year, Uptown Company acquired an intangible asset for P3,000,000. The intangible asset has an estimated useful life of 10 years. At the current year-end, the intangible asset was evaluated to determine whether it was impaired. On same date, the fair value less cost of disposal of the intangible asset is P2,000,000. The asset is expected to generate future cash flows of P300,000 annually for the remaining 9 years. The appropriate discount rate is 5%. The present value of an ordinary annuity of 1 at 5% for nine periods is 7.11. What is the impairment loss to be recognized for the current year?
Jessica and David both work and they earn $25,000 and $20,000 respectively. They have no other income. What may they claim as a child care credit
X Company would like to at least break even in its first year of operation; what must total sales be in order for that to happen
What type of costing method is used by Crystal Glass? Does the method comply with GAAP? If not, what costing method should be used? What would net income be? Could the statements be misleading to the bank? Why or why not?
marsden manufactures a cat food product called special export. marsden currently has 19000 bags of special export on
Following are the auditor's calculations of several key ratios. What major conclusions can be drawn from this information about the company's future?
The followings are accounting items taken from the records of the Biden Company for 2012: Prepare the statement of cash flows for Biden Company
Conrad contributes $24,000 to receive a 30% interest in a new partnership with Lowman. Determine the amount and recipient of the partner bonus
LL earned a gross profit of 40% on the widgets. Both companies are taxed at 30%. What is the amount of after-tax inventory profit
Cindy attended State University during 2011-2015. She lived at home and was claimed by her parents as a deduction during the entire duration of her education.
What would you expect would happen to the cost of equity if you had to raise it by selling new equity, and why? If the after-tax cost of debt is always less expensive than equity, why don't firms use more debt and less equity? What are some of the..
A stock pays an annual dividend of $2. The dividend is expected to increase by 2% per year (roughly the inflation rate) forever. The price of the stock is $40 per share. At what cost of capital is this stock priced?
Book value of fixed assets - Compute the book value of the fixed assets for the current year and the preceding year and explain the differences, if any
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