Questions 1PT Sarmah obtained a patent in January 2019, at a cost of $ 200,000,000. Estimated useful life 8 year. The company incurred additional costs related to this patent in January 2020, amounting to $ 20,000,000 At the end of 2021 there was an economic downturn due to the pandemic, and a test for impairment of the fair value of int assets was carried out according to an independent appraiser, the recoverable value of the patent is $ 24,000,000.Instructions: Prepare journals at the end of 2019 to 2021 Questions number 2 in image Please answers type not handwriting, thank youthe book I use: Intermediate Accounting, Kieso, ifrs Edition, Fourth Edition 2. On May 11, 2019, PT Aria Jaya paid €3 400,000 to acquire all of the ordinary shares of PT Hamida, whichis a division of PT Ana Jaya, PT Hamida reports the following statement of financial position at the timeof acquisitionNon-current assetsCurrent assets€2,700,000900,000EquityNon-current liabilitiesCurrent liabilitiesTotal equity and liabilities€2,500,000500,000600.000£3.600.000Total assets€3.600.000At the date of purchase it was determined that the fair value of the net identifiable assets of PT Hamida was€2,800,000. On December 31, 2019, PT Hamida reported the following statement of financial position information.Current assetsNon-current assets (including goodwill recognized in purchase)€ 800,0002,400,000(700,000)Current liabilitiesNon-current liabilities(500,000)Net assets€2.000.000It has been determined that the recoverable amount of the Hamida division is €2,100,000.Instructions:Calculate the amount of goodwill recognized, if any, at May 31, 2019

Journal Entries at the end of 2019: (1) Amortisation expense account Dr. $2,50,00,000…

Answered: Jaya pala €3 400,000 to acquire all of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Questions 1 PT Sarmah obtained a patent in January 2019, at a cost of $ 200,000,000. Estimated useful life 8 year. The company incurred additional costs related to this patent in January 2020, amounting to $ 20,000,000 At the end of 2021 there was an economic downturn due to the pandemic, and a test for impairment of the fair value of int assets was carried out according to an independent appraiser, the recoverable value of the patent is $ 24,000,000. Instructions: Prepare journals at the end of 2019 to 2021 Questions number 2 in image Please answers type not handwriting, thank you the book I use: Intermediate Accounting, Kieso, ifrs Edition, Fourth Edition

2. On May 11, 2019, PT Aria Jaya paid €3 400,000 to acquire all of the ordinary shares of PT Hamida, which
is a division of PT Ana Jaya, PT Hamida reports the following statement of financial position at the time
of acquisition
Non-current assets
Current assets
€2,700,000
900,000
Equity
Non-current liabilities
Current liabilities
Total equity and liabilities
€2,500,000
500,000
600.000
£3.600.000
Total assets
€3.600.000
At the date of purchase it was determined that the fair value of the net identifiable assets of PT Hamida was
€2,800,000. On December 31, 2019, PT Hamida reported the following statement of financial position information.
Current assets
Non-current assets (including goodwill recognized in purchase)
€ 800,000
2,400,000
(700,000)
Current liabilities
Non-current liabilities
(500,000)
Net assets
€2.000.000
It has been determined that the recoverable amount of the Hamida division is €2,100,000.
Instructions:
Calculate the amount of goodwill recognized, if any, at May 31, 2019

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