9.10 please 9 10 PF purchased a quota for carbon dioxide emissions for $15,000 on 30 April 20X6 and capitalised it asan intangible asset in its statement of financial position, PF estimates that the quota will have a usefullife of three years. What is the journal entry required to record the amortisation of the quota in theaccounts for the year ended 30 April 20X9?$15,000DEBIT ExpensesCREDIT Accumulated amortisationA$15,000DEBIT ExpensesCREDIT Accumulated amortisation$5,000bet$5,000$5,000DEBIT Intangible assetsCREDIT Accumulated amortisationC$5,000$15,000DEBIT Accumulated amortisationCREDIT Intangible assets$15,000ab9.11 What is the purpose of amortisation?lifeTo allocate the cost of an intangible nTo ensure that funds are availableTo reduce the cost of an intanestimated market valueD.To account for the risk9.12 Which of the following itmeasured reliably), isComputer b2.Operating3.A pate4.An e

We have the following information: Intangible Asset Purchase price of quota for carbon dioxide…

9 10 PF purchased a quota for carbon dioxide emissions for $15,000 on 30 April 20X6 and capitalised it as an intangible asset in its statement of financial position. PF estimates that the quota will have a userul life of three years. What is the journal entry required to record the amortisation of the quota in the accounts for the year ended 30 April 20X9? DEBIT Expenses CREDIT Accumulated amortisation $15,000 $15,000 DEBIT Expenses CREDIT Accumulated amortisation $5,000 $5,000 DEBIT Intangible assets CREDIT Accumulated amortisation $5,000 C $5,000 DEBIT Accumulated amortisation CREDIT Intangible assets $15,000 D. $15,000 9.11 What is the purpose of amortisation?

9 10 PF purchased a quota for carbon dioxide emissions for $15,000 on 30 April 20X6 and capitalised it as an intangible asset in its statement of financial position. PF estimates that the quota will have a userul life of three years. What is the journal entry required to record the amortisation of the quota in the accounts for the year ended 30 April 20X9? DEBIT Expenses CREDIT Accumulated amortisation $15,000 $15,000 DEBIT Expenses CREDIT Accumulated amortisation $5,000 $5,000 DEBIT Intangible assets CREDIT Accumulated amortisation $5,000 C $5,000 DEBIT Accumulated amortisation CREDIT Intangible assets $15,000 D. $15,000 9.11 What is the purpose of amortisation?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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