ombell, Incorporated has the following assets in its trial balance: Cash $ 10,000 Equipment 60,000 Accounts receivable 3,000 Copyright 4,000 Inventory 16,000 Patent 10,000 Building 100,000 What is the total balance of its Property, Plant, and Equipment?
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Fombell, Incorporated has the following assets in its
Cash | $ 10,000 |
Equipment | 60,000 |
3,000 | |
Copyright | 4,000 |
Inventory | 16,000 |
Patent | 10,000 |
Building | 100,000 |
What is the total balance of its Property, Plant, and Equipment?
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- French Vanilla Company commenced operations in the current year. A number of expenditures were made during the current year that were debited to one account Intangible asset. Incorporation fees and legal costs related to organizing the incorporation for P150,000 Fire Insurance premium for three-year period for 60,000 Legal fees for filing a patent on a new product resulting from an A&B project for 50,000 Purchase of copyright for 300,000 Legal fees for successful defense of the patent developed from the project for 50,000 Entered into a 10-year franchise agreement with a franchisor for 600,000 Advertising cost for 50,000 Purchase of all the outstanding ordinary shares of an acquire. On the date of purchase, the acquire had fair value of total assets, P6,000,000 and total liabilities of P2,200,000. for 5,000,00 What amount should be reported as intangible asset?A) A cash generation unit holds the following assets: GH₵ Goodwill 60,000 Patent right120,000 Property, Plant and Equipment (PPE)180,000 360,000 An annual impairment review is required as the cash-generating unit contains goodwill The most recent review assesses its recoverable amount to be GH₵ 270,000 Required: Determine how the impairment loss will be allocatedThe following payments and receipts are related to land, land improvements, and buildings acquired for use in a wholesale ceramic business. The receipts are identified by an asterisk next to the item letter. a. Fee paid to attorney for title search $ 2,500 b. Cost of real estate acquired as a plant site: Land 285,000 Cost of real estate acquired as a plant site: Building (to be demolished) 55,000 c. Delinquent real estate taxes on property, assumed by purchaser 15,500 d. Cost of razing and removing building acquired in B 5,000 e.* Proceeds from sale of salvage materials from old building 4,000 f. Special assessment paid to city for extension of water main to the property 29,000 g. Architect’s and engineer’s fees for plans and supervision 60,000 h. Premium on one-year insurance policy during construction 6,000 i. Cost of filling and grading land 12,000 j.* Money borrowed to pay building contractor 900,000 k. Cost of repairing windstorm damage during…
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