User Account

All Pages

Prepare the journal entry to record the impairment of asset

Assignment Help Accounting Basics
Reference no: EM131693746

Question - Presented below is Information related in copyrights owned by Oriole Company at December 31, 2017.

Cost - $8,630,000

Carrying amount - 4,370,000

Expected future net cash flows - 4,040,000

Fair value - 3,200,000

Assume that Oriole Company will continue to use this copyright In the future. As of December, 2017, the copyright is estimated to have a remaining useful life of 10 years.

(a) Prepare the journal entry to record the impairment of the asset at December 31, 2017. The company does not use accumulated amortization accounts.

Reference no: EM131693746

Questions Cloud

Option pricing to capital budgeting problems : Discuss some of the practical issues with applying option pricing to capital budgeting problems.
What are advantages of using wasta as seen through eyes : Using wasta is an accepted business practice in the Arab world. What is wasta? What are the advantages of using it as seen through the eyes of Arab managers?
What alcohol would be most appropriate for the synthesis : What alcohol would be most appropriate for the synthesis of 1-methylcyclohexene
Discuss conduct specifically prescribed by a state statute : Howard that provides that only conduct specifically prescribed by a state statute may be a predicate offense for official misconduct
Prepare the journal entry to record the impairment of asset : Prepare the journal entry to record the impairment of the asset at December 31, 2017. The company does not use accumulated amortization accounts
Stock price today using dividend discount model : What should be H&M's stock price today using dividend discount model?
Prepare a direct materials purchases budget : Prepare a direct materials purchases budget for July, August, and September, showing purchases in units and in dollars for each month and in total.
What is your analysis of the department managers performance : Evaluate the effectiveness claims of the manager using the budgetary variance mode described.What is your analysis of the department manager's performance?
What are the shape mean and standard deviation of sampling : What are the shape, mean, and standard deviation of the sampling distribution of the sample proportion for samples of 250?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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