Copyright estimation to have a remaining useful life

Assignment Help Accounting Basics
Reference no: EM13155365

The following information is for a copyright owned by Venetian Corp., publicly accountable entity, at December 31, 2010:

Cost $ 4,300,000

Carrying amount 2,150,000

Expected future net cash flows (undiscounted) 2,000,000

Fair value 1,600,000

The copyright's value in use is $1,850,000 and the selling costs are $100,000. Assume that Venetian Corp. will continue to use this copyright in the future. As at December 31, 2010, the copyright is estimated to have a remaining useful life of 10 years

Reference no: EM13155365

Questions Cloud

Why are there more different types of nonhistone : Many proteins other than histones are found associated with chromosomes. What roles do these nonhistone proteins play? Why are there more different types of nonhistone than histone proteins?
Define decreasing boiling points : with vapor pressures at room temperature of 88, 680, 155, respectively, in order of decreasing boiling points.
Find the z-score and t-score for each student : Obtain the z-score and T-score for EACH student. Show your calculations. Who did better on the test? How many standard deviation units is each score from the mean?
Compute cash-basis net income-accrual-basis net income : Compute 2008 cash-basis net income. Compute 2008 accrual-basis net income.
Copyright estimation to have a remaining useful life : The copyright's value in use is $1,850,000 and the selling costs are $100,000. Assume that Venetian Corp. will continue to use this copyright in the future. As at December 31, 2010, the copyright is estimated to have a remaining useful life of 10 ..
Calculate estimate of probability that sum of dice is ten : Using your simulation results calculate an estimate of the probability that the sum of the dice is 10 and the player is dealt three cards that can be put in sequence.
Calculate the amount of heat required : Calculate the heat required to convert 24.0 g of C2Cl3F3 from a liquid at 12.00°C to a gas at 56.00°C
Break-even point-total revenue : St. Joseph hospital has overall variable costs of 30% of total revenue and fixed costs of 42 million per year. Compute the break-even point expressed in total revenue.
What is the maximum debt ratio the firm can use : It can borrow at a rate of 7.5%, but the bank requires it to have a TIE of at least 4.0, and if the TIE falls below this level the bank will call in the loan and the firm will go bankrupt. What is the maximum debt ratio the firm can use?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepaid expenses and accounts payable

A company had net income of $242,000. Depreciation expense is $26,000. During the year, accounts receivable and inventory increased $15,000 and $40,000, respectively. Prepaid expenses and accounts payable decreased $2000 and $4000, respectively. T..

  Preferred shareholders-common stockholders

What amount of dividends must the company pay the preferred shareholders in 2009 if they wish to pay the common stockholders a dividend?

  Is company violating the accounting principle of consistency

Would the use of accelerated depreciation in the financial statements be more conservative or less conservative than the current practice of using the straight-line method? Explain.

  Calculating expected return on portfolio

You own a portfolio that is 38 percent invested in Stock X, 22 percent in Stock Y, and 40 percent in Stock Z. The expected returns on these three stocks are 10 percent, 15 percent, and 12 percent, respectively.

  Qualify for like-kind exchange treatment

What requirements must be met for property to qualify for like-kind exchange treatment?

  Cost of the departmental work in process inventory

Assuming that all direct materials are placed in process at the beginning of production and that the first-in, first-out method of inventory costing is used, what is the total cost of the departmental work in process inventory at the end of the pe..

  Determine the wacc

A company has 75% equity and 25% debt, the rate paid to bondholders is 8%, while cost of equity capital is 12%. Using these figures, please determine the WACC (weighted average cost of capital).

  Equity-initial value and partial equity methods

Which one of the following varies between the equity, initial value and partial equity methods of accounting for an investment in a subsidiary?

  Purpose of equivalent-unit computation

The purpose of the equivalent-unit computation is to: convert partially completed units into the amount of completed output units that could be made with that quantity of input

  Discuss the validity and implications of statement

When questioned by the auditors, the CFO of ABC Inc. mentioned, "An asset is just an expense waiting to happen." Discuss the validity and implications of this statement.

  Determining projected ending retained earning balance

What is the projected ending retained earning balance of march 31, 2012, assuming that 2010 was their worst year of business?

  Total assets and customers account

If ABC Service collects $50,000 from customers on account: a) total assets are unchanged b) liabilities increases c) owners equity decreases d) onwers equity increases

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!

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