User Account

All Pages

Calculate the amortization expenses in the cases

Assignment Help Financial Accounting
Reference no: EM132575519

Question 1: Calculate the amortization expenses in the following cases and pass the journal entries as per IAS 38:

(i) An IT program was purchased for Rs. 110,000 on credit with a useful life of 9 years.

(ii) A license was obtained for Rs. 25000 for software for 10 years and half of the payment is to be paid in next year.

(iii) A small business unit was acquired for 1700,000 with goodwill of Rs.25000.

(iv) A development cost of Rs.650,000 if internally developed formula was capitalized in current year with estimated useful life of 8 years. Half of the cost include salaries to researchers.

(v) A product prototype is disposed-off for Rs. 15,000 which was acquired for Rs. 45,000 in last year with useful life of 7 years.

Reference no: EM132575519

Questions Cloud

Calculate the current estimate of the covariance : Calculate the current estimate of the covariance between the assets. Suppose that the current daily volatilities of asset A and asset B are 1.65%
Key elements of fiedler contingency model : Discuss some of the key elements of Fiedler's contingency model. Share a personal or professional experience that relates to one of these.
Estimate the daily volatility : Estimated as ? = 0.000004, a = 0.05, and ß = 0.94. The current daily volatility is estimated to be 1%. Estimate the daily volatility in 30 days.
Describe assets and liabilities and equity : Describe assets, liabilities, and equity, that are not closed as long as the company continues to own the assets, owe the liabilities, or have equity
Calculate the amortization expenses in the cases : Calculate the amortization expenses in the cases and pass the journal entries as per IAS 38. An IT program was purchased for Rs. 110,000 on credit
What non-quantitative observations make about the portfolio : What non-quantitative observations can you make about the portfolio? Explain the basis upon which you determined the weighted average yield.
Four elements of transformational leadership : Describe the four elements of transformational leadership. Transformational leadership is the most popular perspective of leadership
Define leadership and shared leadership : Define leadership and shared leadership, and describe authentic leadership.
What levels of evidence are present in relation : What levels of evidence are present in relation to research and practice and why are they important regardless of the method you use?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd