## Answers

1. 2016 Amortization = $16080/10years |

= $1608 |

12/31/2016 Book Value = $16080-$1608 = $14472 |

2017 Amortization = ($14472 +$7880)/9 = $2483.56 |

13/31/2017 Book Value = ($14472+$7880-2483.56) = $19868.44 |

B) Assuming trade names will provide no future benefits beyond December 2020 |

2017 Amortization = ($14472 +$7880)/4 = $5588 |

12/31/2017 Book Value = ($14472 +$7880- $5588)= $16764 |

C) |

Carrying Amount 19868.44 is greater than future cash flows $15760, thus the Trade name fails the recovery test. The new carrying value is $14560, the trade name's fair value |

2018 Amortization (After recording impairment loss) |

$14560/8 = $1820 |

12/31/2018 Book Value = ($14560-$1820) = $12740 |

#### Similar Solved Questions

1 answer

##### Е нты = = = и ана ли А і наване НА л балалар на на...

Е нты = = = и ана ли А і наване НА л балалар на на - НЕ нас Е . - Edit C...

1 answer

##### Please answer the question below, thanks! Problem 10-12A On January 1, 2019, Oriole Company issued $2,780,000...

Please answer the question below, thanks! Problem 10-12A On January 1, 2019, Oriole Company issued $2,780,000 face value, 12%, 10-year bonds at $2,629,150. This price resulted in an effective-interest rate of 13% on the bonds. Oriole uses the effective-interest method to amortize bond premium or...

1 answer

##### Alomar Co., a consolidated enterprise, conducted an impairment review for each of its reporting units. In...

Alomar Co., a consolidated enterprise, conducted an impairment review for each of its reporting units. In its qualitative assessment, one particular reporting unit, Sellers, emerged as a candidate for possible goodwill impairment. Sellers had recognized net assets with carrying amounts totaling $1,0...

1 answer

##### Kinematics A stuntman is dropped from a plane flying at a height of 100m and travelling...

Kinematics A stuntman is dropped from a plane flying at a height of 100m and travelling at 15 ms-1 parallel to the ground. At what horizontal distance from a landing mat must the plane drop the stuntman so that they land safely on the mat? Answer needs to be an absolute value....

1 answer

##### 23. The boiling points of the following aqueous solutions, from highest to lowest, are: 0.25 m...

23. The boiling points of the following aqueous solutions, from highest to lowest, are: 0.25 m glucose, C6H12O6 0.15 m CaCl2 0.20 m NH4NO3...

1 answer

##### REVIEW QUESTIONS 2. Generally, how is the problem of management override and collusion addressed? 4. What...

REVIEW QUESTIONS 2. Generally, how is the problem of management override and collusion addressed? 4. What is the role of the external auditor in the financial reporting process? 5. How is materiality determined?...

1 answer

##### 5. Draw the major organic product generated in the and stereochemical detail. oduct generated in the...

5. Draw the major organic product generated in the and stereochemical detail. oduct generated in the reaction below. Pay particular attention to regio- HBO...

1 answer

##### A variable contains five categories. It is expected that data are uniformly distributed across these five...

A variable contains five categories. It is expected that data are uniformly distributed across these five categories. To test this, a sample of observed data is gathered on this variable resulting in frequencies of 27, 30 29, 21, and 24. Using a = .01, the appropriate decision is - O reject the null...

1 answer

##### Indique si una solución óptima se ha encontrado (¿cuál es?), o se requiere otro pivote, o si no hay una solución factibl...

Indique si una solución óptima se ha encontrado (¿cuál es?), o se requiere otro pivote, o si no hay una solución factible para el problema correspondiente para la siguiente tabla simplex Indicate the optimal solution, or if it requires other pivot, or if there isn&...

1 answer

##### QUESTION 3 For each of the following transactions for the Banner Company, mark the account that...

QUESTION 3 For each of the following transactions for the Banner Company, mark the account that is debited, the account that is credited, and the amount for each. Choose from the following account names AND PLEASE SPELL THEM CORRECTLY IN YOUR ANSWER or Blackboard will mark your answer wrong. Note: A...

1 answer

##### The Griggs Corporation has credit sales of $1,075,900 Total assets turnover Cash to total assets Accounts...

The Griggs Corporation has credit sales of $1,075,900 Total assets turnover Cash to total assets Accounts receivable turnover Inventory turnover Current ratio Debt to total assets 2.90 times 1.30 % 10 times 14 times 1.88 times 45 % Using the above ratios, complete the balance sheet. (Round your answ...

1 answer

##### 1 2 3 4 5 P ($) $8.50 7.50 6.50 5.50 4.50 TR (S) $8.50 15.00...

1 2 3 4 5 P ($) $8.50 7.50 6.50 5.50 4.50 TR (S) $8.50 15.00 19.50 22.00 22.50 What is the marginal revenue for the third unit?...

1 answer

##### PROBLEM Factor completely. 8y3 -26y 6y SOLUTION 8y's 2.2.2. уз 26y2-2. 13-уг 6y 2.3.y Factors of...

PROBLEM Factor completely. 8y3 -26y 6y SOLUTION 8y's 2.2.2. уз 26y2-2. 13-уг 6y 2.3.y Factors of 4 1,4 Factors of 3 Trial Factors (y-1)(4y -3) (y-3)(4y -1) (2y -1)(2y -3) Middle Term The GCF is a [d]-12y -13y Factor the trinomial. Complete the solution above by tiing in t...

1 answer

##### Determine the moment of inertia of the composite with respect to the horizontal centroidal axis: 3in...

Determine the moment of inertia of the composite with respect to the horizontal centroidal axis: 3in 3in 3in 3.5 in 5in HER 10 in 5 in ....

1 answer

##### Draw a line on the graph representing the total energy of the ball.

A 1.00 kg ball is thrown directly upward with an initial speed of 16.0 m/s.A graph of the ball's gravitational potential energy vs. height, Ug(h), for an arbitrary initial velocity is given in Part A. The zero point of gravitational potential energy is located at the height at which the bal...

1 answer

##### The events A, B and C form a partition of the sample space 2. Suppose that...

The events A, B and C form a partition of the sample space 2. Suppose that we know that P(A U B) 5/8 and that P(B U C) 7/8. Find P(A) P(B) and P(C); explain how you arrive at your answers....

1 answer

##### Draw the best Lewis dot structure for CF4. What is the molecular geometry and electron domain geometry of the structure?...

Draw the best Lewis dot structure for CF4. What is the molecular geometry and electron domain geometry of the structure? Is the molecule polar or non-polar? What are the formal charges on all atoms? Hybridization ion on central atom?...