880000 b 688,000 C. 708,000 d 2816,000 3. On January 1, 20x1, Devjo Co. bought a franchise from McDo Co. The franchise requires an initial fee of P15,000,000 payable as follows: P5,000,000 down payment on contract date and the balance in five equal annual installments starting one year from contract date plus 4% interest on the outstanding principal balance. The current market rate as of contract date is 12%. How much is the initial measurement of the intangible asset? a. 14,887,922 b. 15,234,090 c. 13,765,340 d. 13,139,702

880000 b 688,000 C. 708,000 d 2816,000 3. On January 1, 20x1, Devjo Co. bought a franchise from McDo Co. The franchise requires an initial fee of P15,000,000 payable as follows: P5,000,000 down payment on contract date and the balance in five equal annual installments starting one year from contract date plus 4% interest on the outstanding principal balance. The current market rate as of contract date is 12%. How much is the initial measurement of the intangible asset? a. 14,887,922 b. 15,234,090 c. 13,765,340 d. 13,139,702

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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