9 10 PF purchased a quota for carbon dioxide emissions for $15,000 on 30 April 20X6 and capitalised it as an intangible asset in its statement of financial position. PF estimates that the quota will have a userul life of three years. What is the journal entry required to record the amortisation of the quota in the accounts for the year ended 30 April 20X9? DEBIT Expenses CREDIT Accumulated amortisation $15,000 $15,000 DEBIT Expenses CREDIT Accumulated amortisation $5,000 $5,000 DEBIT Intangible assets CREDIT Accumulated amortisation $5,000 C $5,000 DEBIT Accumulated amortisation CREDIT Intangible assets $15,000 D. $15,000 9.11 What is the purpose of amortisation?
9 10 PF purchased a quota for carbon dioxide emissions for $15,000 on 30 April 20X6 and capitalised it as an intangible asset in its statement of financial position. PF estimates that the quota will have a userul life of three years. What is the journal entry required to record the amortisation of the quota in the accounts for the year ended 30 April 20X9? DEBIT Expenses CREDIT Accumulated amortisation $15,000 $15,000 DEBIT Expenses CREDIT Accumulated amortisation $5,000 $5,000 DEBIT Intangible assets CREDIT Accumulated amortisation $5,000 C $5,000 DEBIT Accumulated amortisation CREDIT Intangible assets $15,000 D. $15,000 9.11 What is the purpose of amortisation?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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9.10 please
Transcribed Image Text:9 10 PF purchased a quota for carbon dioxide emissions for $15,000 on 30 April 20X6 and capitalised it as
an intangible asset in its statement of financial position, PF estimates that the quota will have a useful
life of three years. What is the journal entry required to record the amortisation of the quota in the
accounts for the year ended 30 April 20X9?
$15,000
DEBIT Expenses
CREDIT Accumulated amortisation
A
$15,000
DEBIT Expenses
CREDIT Accumulated amortisation
$5,000
bet
$5,000
$5,000
DEBIT Intangible assets
CREDIT Accumulated amortisation
C
$5,000
$15,000
DEBIT Accumulated amortisation
CREDIT Intangible assets
$15,000
ab
9.11 What is the purpose of amortisation?
life
To allocate the cost of an intangible n
To ensure that funds are available
To reduce the cost of an intan
estimated market value
D.
To account for the risk
9.12 Which of the following it
measured reliably), is
Computer b
2.
Operating
3.
A pate
4.
An e
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