Platteville Corporation has the following account balances at 12/31/10: Amortization expense: $10,000 Goodwill: $140,000 Patent, net of $30,000 Amortization: $70,000 What amount should Platteville report for intangible assets on the 12/31/10 balance sheet? a. $70,000 b. $210,000 c. $100,000 d. $220,000

Platteville Corporation has the following account balances at 12/31/10: Amortization expense: $10,000 Goodwill: $140,000 Patent, net of $30,000 Amortization: $70,000 What amount should Platteville report for intangible assets on the 12/31/10 balance sheet? a. $70,000 b. $210,000 c. $100,000 d. $220,000

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter8: Investing Activities

Section: Chapter Questions

Problem 1.3AIC: Estimate the average total estimated useful life of depreciable property, plant, and equipment....

See similar textbooks

Similar questions

Platteville Corporation has the following account balances at 12/31/20: Amortization expense P 10,000 Trademark 80,000 Research and Development costs 100,000 Patent, net of P30,000 amortization 70,000 What amount should Platteville report for intangible assets on the 12/31/20 statement of financial position? 100,000 150,000 250,000 260,000
Anderson Corporation has purchased a group of assets for $23,200. The assets and their relative fair value are listed below Land Equipment Building $7,300 2,300 3,100 Which of the following amounts would be debited to the Land account? Round any intermediate calculations to two (2) decimal places, and the final answer to the nearest dollar OA $4.233 OB. $4,176 OC. $5.568 OD. $13,224
pregunta anexa question in image
The ending net book value of Property, Plant & Equipment (PP&E) in year 1 and year 2 are $500,000 and $430,000 respectively on Company A's balance sheet. The company's depreciation expense in year 2 is $90,000. What is Company A's net capital expenditure? O a. %33 O b. %20. O c. %67. Od. %77. Nexto (? H 10:0 РОСОРНONЕ 11/3 SHOT ON POCOPHONE F1
The following information is available for a Company's asset: Cost $5,350,000; Carrying amount (book value) $3,200,000; Undiscounted future cash flows 2,150,000, fair value or market value $2,600,000. Regarding this asset, the company would record a loss on impairment of OLO0.000 OBE00.000 OL 1000.000
Estimate the average total estimated useful life of depreciable property, plant, and equipment. Starbucks reports 580.6 million of depreciation and amortization in the statement of cash flows, of which 4.5 million relates to amortization of limited-life intangible assets. Does the estimate reconcile with stated accounting policy on useful lives for property, plant, and equipment? Explain.
S1).
The ending net book value of Property. Plant&Eiquipment (PPRE) in year l and year 2 re $00ad $430,000 respectively on Company A'sbalance sheet. The company's depreciationexpersein year Zis $90,000. Whatis Company A's net capital expenditure? O a $16000 Ob $9000 0. $340.00. 04 $20000
Use this information to answer the following 6 questions. Madison Company acquired a depreciable asset at the beginning of Year 1 at a cost of $12 million. At December 31, Year 1, Madison gathered the following information related to this asset: Carrying value of the asset at 12/31/Y1 $10 million Fair value of the asset at 12/31/Y1 $7.5 million Sum of expected future cash flows at 12/31/Y1 $10 million Present value of expected future cash flows at 12/31/Y1 $8 million Remaining useful life at 12/31/Y1 5 years Determine the impact on Year 1 net income from depreciation and possible impairment under IFRS.
Which of the following formulas for the capital expenditure on intangibles is correct? Assume the current time (now) is t1 and last year is to, and that 'Intangible assets' is a carrying value net of accumulated amortisation. Select one: a. CapExOnIntangibles(t1) = IntangibleAssets (t1) + IntangibleAssets (t0) + Amortisation ExpenseOnIntanglibles (t1) b. CapExOnIntangibles(t1) = IntangibleAssets (t1) - IntangibleAssets(t0) + Amortisation ExpenseOnIntanglibles(t1) c. CapExOnIntangibles (t1) = IntangibleAssets(t1) - IntangibleAssets(t0) - Amortisation ExpenseOnIntanglibles (t1) d. CapExOnIntangibles(t1) = IntangibleAssets (t1) + AmortisationExpenseOnIntanglibles (t1) e. CapExOnIntangibles (t1) = IntangibleAssets (t1) - Amortisation ExpenseOnIntanglibles (t1)
General Accounting
Calculate EBITDA I calculated $6,750,000 but I also calculated 6,507,692 - which one is correct? Operating costs (excl. depreciations & amortization): $4.5mDepreciation and amortization: $1.5mInterest: $0.7mNet Income: $2.8mTax Rate: 35%