Financial Statement Presentation Alexa Corp. reported the following amounts for the year just ended: Land $150,000 Patents 25,000 Equipment 40,000 Buildings 150,000 Goodwill 37,000 Accumulated amortization 13,000 Accumulated depreciation 90,000   Prepare a partial balance sheet for these amounts. Property, Plant and Equipment (net) Answer Goodwill Answer Intangible Assets Answer

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Information has been collected regarding Orange Company’s cash-generating unit that includes goodwill. At 31 December 20X5, the assets of the Orange Company’s cash-generating unit are shown as follows (in millions) on the company’s SFP:    Cost   Accumulated Depreciation   Net Book Value   Goodwill $ 1,360     $ 0       $ 1,360     Equipment   4,850       3,150         1,700     Building   7,320       2,330         4,990     Patent rights   1,290       320         970       $ 14,820     $ 5,800       $ 9,020           An impairment test indicates that the recoverable amount assigned to the assets of this CGU is $6,200 million. The assets are not separable—they must be operated or sold together as a group.Required:1. Prepare an adjusting journal entry to record the impairment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate percentage answers to the nearest whole number (i.e.…

A fixed asset with a cost of $27,381 and accumulated depreciation of $24,642.90 is sold for $4,654.77. What is the amount of the gain or loss on disposal of the fixed asset? a.$1,916.67 loss b.$2,738.10 gain c.$1,916.67 gain d.$2,738.10 loss

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Determining Carrying Value and Amortization of Intangible Assets Review the following information pertaining to Denzel Company. 1. A patent was purchased on January 2 of Year 1 for $104,000 when the remaining legal life was 16 years. On January 2 of Year 3, Denzel determined that the remaining useful life of the patent was only eight years from the date of its acquisition. 2. On January 1 of Year 3, Denzel Company purchased a second patent for $128,000 cash. At January 1 of Year 3, a total of 6 years of the patent's legal life of 20 years had expired. 3. On June 30 of Year 3, Denzel Company paid a firm $12,800 for a new trademark. Denzel considers the life of the trademark to be indefinite. 4. On November 1 of Year 3, Denzel Company acquired all noncash assets and assumed all liabilities of Lee Company at a cash purchase price of $192,000. Denzel determined that the fair value of the identifiable net assets acquired in the transaction is $187,200. Required a. What is the carrying value…

Company X purchased Company Y for $4,000,000. The net assets of the company purchased were valued at $3,800,000. What asset will be on Company X's balance sheet for $200,000? Goodwill Amortization Not enough info Equipment

A fixed asset with a cost of $30,192 and accumulated depreciation of $27,172.80 is sold for $5,132.64. What is the amount of the gain or loss on disposal of the fixed asset? a.$2,113.44 loss b.$3,019.20 gain c.$3,019.20 loss d.$2,113.44 gain

Information has been collected regarding Orange Company's cash-generating unit that includes goodwill. At 31 December 20X5, the assets of the Orange Company's cash-generating unit are shown as follows (in millions) on the company's SFP: Goodwill Equipment Building Patent rights Cost $ 1,240 4,400 6,640 2,040 $14,320 Accumulated Depreciation $ 2,900 2,170 290 $5,360 Net Book Value $1,240 1,500 4,470 1,750 $8,960 An impairment test indicates that the recoverable amount assigned to the assets of this CGU is $5,600 million. The assets are not separable-they must be operated or sold together as a group. Required: 1. Prepare an adjusting journal entry to record the impairment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate percentage answers to the nearest whole number (i.e. 0.12 should be considered as 12%) and final answers to the nearest whole dollar amount. Enter the amounts in millions.) View…

(in millions of euros) Operating activities Note Year ended December 31, 2019 2018 EBIT 4 1,381 1,182 Adjustments 21 779 432 Content investments, net (676) (137) Gross cash provided by operating activities before income tax paid 1,484 1,477 Other changes in net working capital 67 (28) Net cash provided by operating activities before income tax paid 1,551 1,449 Income tax (paid)/received, net 6.2 (283) (262) Net cash provided by operating activities 1,268 1,187 Investing activities Capital expenditures 3 (413) (351)