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What was the net carrying amount of intangible assets

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Reference no: EM132936057

Question 1: What types of fixed assets does AirBoss have and what are the useful lives?

Question 2: How much goodwill did AirBoss report in 2019 and how much was reported in 2020? What is goodwill and why did it increase?

Question 3: How are intangible assets amortized according to AirBoss? What was the net carrying amount of intangible assets in 2020? What is an example of an intangible asset that has an indefinite life and how is it amortized?

Question 4: Accounting for property, plant, and equipment, intangible assets, and goodwill requires many estimates and the exercise of judgement by a company's management. Refer to note 2; on what basis does AirBoss uses estimates and judgements?

Question 5: Suppose AirBoss made different estimates in its financial statements in particular as it relates to long lived assets. How would the financial statements be affected? What difference would it make if different estimates were made? Consider the stakeholders when answering.

Attachment:- AirBoss of America Financial Statements.zip

Reference no: EM132936057

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