Financial Accounting Valuation Of Goodwill Homework Help
- November 17, 2017
- Posted by:
- Category: Accounting QA
Best UK USA UAE Australia Canada China Financial Accounting Valuation Of Goodwill Homework Help Service Online
1. At the end of its reporting year, SunnySide shows the following intangible assets on its books: $30,000 patents with estimated remaining useful life of 10 years, and $46,000 goodwill with an indefinite life. Before closing its books, the company evaluates its intangible assets and identifies a $10,000 impairment in patents and a $15,000 impairment in goodwill. For IFRS, SunnySide accounts for its intangible assets using the cost method.
a. How will the impairment loss be reported for US GAAP and IFRS?
b. At the end of the following year, SunnySide determines the company has recovered $6,000 of the patent impairment and $8,000 of the goodwill impairment. How will this be reported for US GAAP and IFRS?
2. During 2007, a company began researching and developing a new technology. By March 31, 2008, the company had determined the new product was technologically feasible. As of April 30, 2008, the company had developed a business plan including identification of a ready market for the product, and a commitment of resources to ready the product for market. After completion of the second prototype in June 2008, the product was considered ready for mass production and marketing. The company has tracked costs of the product as follows:
Market research costs, 2007 € 30,000
Research costs, 2007 100,000
Research costs, Jan-Mar 2008 50,000
Legal fees – patent 25,000
Development costs, Apr 2008 20,000
Management time to develop business plan 15,000
Development cost – initial prototype 500,000
Testing of initial prototype 150,000
Cost of revisions and second prototype 75,000
Legal fees to defend patent 30,000
Mass production 200,000
Marketing launch 120,000
What amount will be included in intangible assets on the company’s December 31, 2008 financial statements prepared in accordance with IFRS? How much would be included in intangible assets under US GAAP?
3. Mr. Wiseman has invested a sum of Rs. 2,00,000 in his own business which is a very profitable one. The annual profit earned from his business is Rs. 45000 which includes a sum of Rs 10,000 received as compensation of a part of his business premises. As an alternative to his engagement in his business, he could have invested the money in long term deposit with Bank earning a normal rate of interest of 10% and also could engage himself in employment thereby getting an annual salary of Rs 7200. Considering 2% as fair compensation for the risk involved in the business, calculate the value of goodwill of his business on capitalization of super profits at the normal rate of interest. Ignore taxation.
How it Works?
How it Works?
Step 1:- Want to buy solution for this. Please click on submit your assignment here and then fill all details and please mentioned product code at the end of the case. Product code is extremely important to locate your assignment. You can also mail us by keeping product code as mail subject to besthomewrokhelpers@gmail.com
Step 2:- As soon as we received your details, we will inform you with through email about quotations of the given assignment. Requesting you to please mention your budget. Also ensure our email besthomeworkhelpers@gmail.com should not go into your spam folder.
Step 3:- Once you agree with our price, click on pay now and pay the agreed amount and once we received the payment assignment will be delivered before agreed deadline.
Step 4:-You can also call us in our phone no. as given in the top of the home page or chat with our customer service representatives by clicking on chat now given in the bottom right corner.
Features
Our Features for Assignment Help Services
Plagiarism Free Solution
The first and foremost things that we promise to our customer is plagiarism free solution i.e. a complete and unique solution as per customer’s university requirements.
Excellent Customer Care Services
You can feel our responsiveness once you use our service. Our team of excellent and dedicated customer service representatives are always ready to provide best customer care service 24X7 . Just drop a mail to besthomeworkhelpers@gmail.com and you can receive response in just no time.
Multiple Stage Quality Assurance
We design a unique multiple stage quality assurance team to ensure plagiarism free, original, relevant and as per customer’s requirements. We not only give importance to accurate solutions or writing but also we give equal importance to references style too.
Privacy and Confidentiality
We believe in maintaining complete privacy and confidentiality of all our clients. None of the information furnished to us is shared with anyone else.
Our Clients
We receive requests from clients all over the World. Most of our customers are from USA, UK, Australia, Canada, UAE, Muscat, Oman, Qatar, UAE, New-Zealand, France Germany etc.
Related Services
- Accounting Homework Help
- Accounting Assignment Help
- Computer Science Homework Help
- Management Homework Help
- Finance Assignment Help
- Online Essay Writing Help
- Strategic management case study help
- Case Study Assignment Help
- Dissertation Writing Help
- Trade finance case study help
- Project Management Assignment Help
- Mechanical Engineering Homework Help
- Online Quiz Help
- Maths homework Help
- Online Exam Help
- Economics Assignment Help
- Economics Homework Help
- English Homework Help
- Macroeconomics Homework Help
- Microeconomics Homework Help
- Statistics Assignment Help
- Australia Taxation Homework Help
- Supply chain management homework help
- Taxation homework help
- USA taxation assignment help
- Advanced accounting homework help online
- Auditing homework writing help
- Human resource management homework help
- Nursing homework help online
- Psychology homework help online
- Sociology homework help online
- Ratio analysis homework help online
- Strategic Management Homework Help Online
- Mba operations management homework help
- Human resource management homework help
- Operations management homework help
4. Mr. Vasudevan has invested a sum of Rs.3,00,000 on his own business which is a very profitable one. The annual profit earned from his business is Rs.67,500, which includes a sum of Rs.15,000 received as compensation for a part of his business premises.
As an alternative to his engagement in his business, he could have invested the money in long-term deposit with bank earning a normal rate of interest of 10% and also could engage himself in employment thereby getting an annual salary income of Rs.10,800.
Considering 2% as fair compensation for risk involved in the business, calculate the value of goodwill of his business on capitalization of super profit at the normal rate of interest. Ignore taxation.
5. Mr.Viswanath has invested Rs. 4,00,000 in a business. His net profit before tax at 50% is Rs. 1,60,000 out of which Rs.12,000 annual rent of own building used as business premises and Rs. 24,000 p.a as his salary was not deducted. For starting this business, he left a job fetching him a monthly salary of Rs.2000. Before starting this business, he had invested this amount on 10% securities. Fair compensation for the risk involved is 2%. Calculate the value of goodwill on the basis of 3 years purchase of the average annual super profits.
Product Code: ACC715
Looking for Financial Accounting Valuation Of Goodwill Homework Help, please submit your details here with product code mentioned above.