BE 11.11 – Lexicon Corporation
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Given patent, developed technology, trademark, and goodwill… create the income statement.
Given patent, developed technology, trademark, and goodwill… create the income statement.
Given project cost, the amount spent, expected life, total, and recognized revenue… create the journal entry, find amortization, and find the amount reported on the balance sheet.
Given useful life, total revenues, the revenue of year two, and development cost.. prepare the journal entry and amortization.
Find the depreciation on the building.
Switches from the straight line to double declining! Also gives the answer if keep as straightline but change residual and useful years. Gives acquired man facility, allocated purchase price, useful life, residual value. Asks for depreciation on building YR3 after switching to double declining.
VERSION3: this is the one where depreciation was incorrectly recorded. Asks to fix the error. Gives you the useful life, residual value, depreciation incorrectly recorded, acquired facility, allocated purchase price. Asks for journal entry to fix error and depreciation. Experts Have Solved This Problem Please login or register to access this content.
What amount of impairment loss should the company recognize? Experts Have Solved This Problem Please login or register to access this content.
Given book value, fair value, and the sum of future cash flows they ask you to determine the amount of impairment loss.
Given book value, fair value, and the present value of future cash flows they ask you to determine the amount of impairment loss.
Given the same value for stock value, goodwill, and book value… change the amount of fair value and then calculate the impairment loss.