Explain about the existence of an active market in relation to the intangible assets and the accounting requirement for its valuation

Q: Total Assets value?

A: Total assets is the value of the assets which company is having at a particular date which company…

Q: On January 1, 20X4, Passive Heating Corporation paid $104,000 for $100,000 par value, 9 percent…

A: A consolidated statement is a combined financial statement of the company and its all subsidiary and…

Q: . Taxpayer Y, single, has taxable income of $137,800, which includes the following gains/losses

A: In case of Short term losses $3000 is applicable for deduction and the remaining amount is carried…

Q: Krishna is 56 years old; he has contributed to the CPP without interruption for over 30 years. While…

A: Introduction: CPP: The current purchasing power (CPP) approach converts the importance of the…

Q: A new product was being planned for production, for that leasing ab machine is required at a cost of…

A: Break even point helps the manager to make decision whether to manufacturing product or not. It is…

Q: ABC contributed P48,000 and DEF contributed P96,000 to form a partnership and they agreed to share…

A: The profit sharing ratio is to be calculated on the basis of their original capital contributions…

Q: good

A: Partnership: It is the agreement between two individuals to share business profitsÂ

Q: Sweet Catering completed the following selected transactions during May 2016: • May 5: Received and…

A: Introduction: Cash Method: Income is not recorded until payment has been made, and costs are not…

Q: The following units of an inventory item were available for sale during the year: Beginning…

A: Inventory is valued on the basis of different inventory valuation methods such as LIFO, FIFO, or…

Q: Aaron and Melissa are looking to sell their house for $700,000. They purchased the house seven years…

A:

Q: Why is the maturity of some bonds ambiguous?

A: A bond is a debt security, Borrowers issue bonds to raise money from investors willing to lend them…

Q: Arnold Vimka is a venture capitalist facing two alternative investment opportunities. He intends to…

A: (1) Operating Leverage of Companies (A) Larson Operating Leverage = Contribution÷ EBIT = 72900÷48600…

Q: Which of the following statements is false? Oa. Even small companies use computerized accounting…

A: Accounting cycle includes: Identifying transactions Journalizing Posting Unadjusted trial balance…

Q: 1, a public corporation exchanged an asset with Bass Industries. The following information was…

A: In case of exchange of asset, if such exchange has a commercial substance then the asset has to be…

Q: Prepare the journal entries on the books of Archibald Corp assuming that the exchange would have…

A:

Q: XYZ Ltd acquires 100 per cent of Red-X Ltd on 1 July 2021. XYZ Ltd pays the shareholders of Red-X…

A: Goodwill is the asset which is intangible in nature and can be computed by deducting the net asset…

Q: A hospital just purchased upgraded software for the Electronic Medical Record surgical dashboard.…

A: Present value factor calculation = 1/(1+r) n  r is interest rate  n is time Or year

Q: Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of the current year,…

A: Treasury StockEntity's own outstanding shares  Gain or loss on sale of treasury stock1. Gain is…

Q: Taxpayer and Spouse divorced in 2017. Under the terms of the decree, laxpayer pays Sp remarriage).…

A: Here discuss about the details of  the amount which are included in the gross income of spouse after…

Q: Kumar Limited makes three products, using broadly the same production methods and equipment for…

A: This question has multiple sub-parts and the student has not specified anything.Therefore, according…

Q: Proceeds of sale of real property classified as principal residence and capital asset are exempt…

A: The principal residence means the residence that is used by the taxpayer for his residence. A…

Q: perpetual equivalent annual worth

A: Annual worth refers to the net of all the benefits and the expenses which are incurred in the…

Q: The Bomb Pop Corporation sold ice cream equipment for $18,500. The equipment was originally…

A: Given, Purchase cost = $40,000, Accumulated depreciation = $25,000, Sale price = $18,500

Q: Archibald Corporation, a public corporation exchanged an asset with Bass Industries. The following…

A: Journal Entries on the books of Archibald Corp assuming that the exchange would have commercial…

Q: 15. Zeta Company reported sales revenue of P4,600,000 in its income statement for the year ended…

A: In order to increase the sales revenue, business organizations sells their goods on a credit basis.…

Q: On December 31, 2022, Ditka Incorporated had Retained Earnings of $271,800 before its closing…

A: Closing entries are prepared at the year end while preparing financial statements. It is through the…

Q: Question 3.2 Cadbury Limited has a public traded debt (debentures) with a face value of R3…

A: Present value of the amount of debenture to be paid on maturity date = Present value of interest…

Q: ABC Ltd has the following land and buildings in its financial statements as at 30 June 2022:…

A: Revaluation is defined as a process in which the assets are reported considering their fair values…

Q: Question 3 On 1 July 2021 Michael Ltd. issues $1 million in five-year debentures that pay interest…

A: As multiple sub-parts have been posted, as per the guidelines only the first three sub-parts will be…

Q: 5. Journalize and post the adjusting entries using the following information: a. Insurance expired…

A: Adjusting Entry – Adjusting Entries are the entries that make the accrual principle work for the…

Q: Service Cost Allocation larley Corp. has two service departments, (Admin Support Dept. & It Support…

A: The production department or service department costs can be allocated to operating departments…

Q: Q21 The Conceptual Framework_________. Select one: a. does not define standards for any particular…

A: Introduction:- The Conceptual Framework deals with all of the following as follows under:- The…

Q: 17. Calapan Company provided the data in the table below. In 2011, accounts written off amounted to…

A: Dear Student, Since you have asked multiple questions, we will solve the first question for you, if…

Q: When the petty cash fund is replenished:   Multiple Choice   Cash is debited.   Petty Cash is…

A: Petty cash is the amount set aside for small day to day expenses. Every once in a while, it is…

Q: (2) Double-diminishing-balance method Year Opening Carrying Amount 2021 $ 2022 2023 2024 2025 2026…

A: Double decline balance method=  Depreciation rate =  = (1/ useful life) * 2 *100 Depreciation is…

Q: Which one of the following actions would you advise against the client doing?           Collect…

A: The RFP stands for request for proposal. This is the technique that is used by the company when they…

Q: both girls, and both girls live at the Princes residence. Which of the following statements is true…

A: Hemlet and Ophelia have one daughter and one taken friend of their daughter Jane, to check whether…

Q: Lake acquired a controlling interest in Boxwood several years ago. During the current fiscal period,…

A: Income tax payable is the amount which is to be paid to the government after applying the tax rate…

Q: q27 The classification and therefore subsequent measurement of financial assets depends on…?…

A: Financial assets are one of the form of liquid assets. It includes cash, stocks, shares, mutual…

Q: Susan Wang is the audit partner for the financial report audit of Macro Ltd for the year ended 30…

A: Here to provide the details of the audit procedures which are implied for the different situation…

Q: 4. Paolo is a sales manager receiving a monthly salary of Php 240 000.00, a commission of 7% on his…

A: Paolo is a sales manager receiving a monthly salary of php 240,000 Commission is 7% Transportation…

Q: Jurvin Enterprises is a manufacturing company that had no beginning inventories. A subset of the…

A: Ledgers - After recording transactions in the journal next step is to transfer them into ledgers.…

Q: Garrison Company uses the retail method of inventory costing. It started the year with an Inventory…

A: Markup is the difference between the cost and sales price that is considered as profit for the…

Q: Kansas Enterprises purchased equipment for $74,500 on January 1, 2021. The equipment is expected to…

A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…

Q: Phoenix Company’s 2019 master budget included the following fixed budget report. It is based on an…

A: Budget: A budget is an estimate of an organization's income and spending for a certain period of…

Q: The following is a partially completed lower section of a departmental expense allocation for Cozy…

A: Overhead means the amount of expenses incurred indirectly to produce the goods. These expenses can…

Q: On Jan 2, 20X1, ABC acquired 20% of the 400,000 ordinary shares of Yellow Co at P30 per share. The…

A: Please refer below for explanation

Q: 3. Compute for the following: Required: Payback period, payback reciprocal, accounting rate of…

A: Payback period is the period which indicate in how much time initial investment comes back to the…

Q: Justify budgetary control solutions and their impact on organisational decision making to ensure…

A: Budgetary control is the control which is put in place by the company or the organization so that…

Q: Cole Company owns 40% of Barnwell Inc. During the current year, Barnwell reported net income of…

A: When a company have the investment in another company, share in net income earned is added to the…