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badly need this asap. will give a thumbs up thank you On Jan 1, 2013, Bunny Inc. purchased a patent with a cost P1,160,000, a
badly need this asap. will give a thumbs up thank you
On Jan 1, 2013, Bunny Inc. purchased a patent with a cost P1,160,000, a useful life of 5 years. The company uses straight-line depreciation. At December 31, 2014, the company determines that impairment indicators are present. The fair value less cost to sell the patent is estimated to be P540,000. The patent's value-in-use is estimated to be P565,000. The asset's remaining useful life is estimated to be 2 years? The company's 2015 income statement will report amortization expense for the patent of * a. P282,500 b. P595.000 232.000 d. P188.333Step by Step Solution
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