Coffee Company Limited has a trademark with a carrying amount of $83,750 and an expected useful life
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Coffee Company Limited has a trademark with a carrying amount of $83,750 and an expected useful life of 10 years. On December 31, 2023, due to a change in customer tastes, Coffee Company gathered the following data about the trademark for the purposes of an impairment test: fair value $45,000; fair value less costs to sell $40,000; value in use $95,200; and undiscounted future cash
flows $125,000. Assume that Coffee Company is reporting under ASPE. Determine if the trademark is impaired on December 31, 2023.
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Under ASPE the cost recovery impairment model for limitedlife intangible assets would apply in ...View the full answer
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