lecture8 _solutions - In class worksheet Item Land...

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In class worksheet Item Land Buildings Expense (a) ____________360,000___________90,000________________ (b) _____________24,000___________6,000________________ (c) _____________50,000_____________________________________________________ (d) _____________________________20,000________________ (e) _____________________________550,000________________ (f) _____________________________________________________10,000__ (g) _____________________________________________________5,000_ (h) ____________________________________________________ 5,000_ (i) ____________________________10,000________________ M8–7. Impairment Loss Cost - Fair Value a. Machine Y $7,000 $15,500 -$ 8,500 b. Copyright N Estimated cash flows exceed book value c. Factory building Y $32,000 $58,000 - $26,000 d. Building N Estimated cash flows equal book value E8–17. Req. 1 Acquisition cost: Patent $ 6,000 Trademark 12,000 Technology 65,000
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Req. 2 Amortization on December 31, 2010 (straight-line method with no residual value): Patent: $6,000 x 1/15 years remaining = $400 amortization expense Trademark: The trademark is not amortized due to its indefinite life. Technology:
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This note was uploaded on 05/10/2011 for the course ACCT 1002 taught by Professor Ng during the Spring '11 term at National University of Singapore.

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lecture8 _solutions - In class worksheet Item Land...

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