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Buckley Ltd is a reporting entity in Australia. The company has entitlement to a. franchise tonsell skiing equipment which was acquired on 1 July 2018
Buckley Ltd is a reporting entity in Australia. The company has entitlement to a. franchise tonsell skiing equipment which was acquired on 1 July 2018 for 70000. Franchise has a fixed term of 10 years with an option to renew it continously with no extra cost
Companys intention has alwYs been that it will continously renew the franchise. There is no active market. Given fulctuating consumers demand for the equipment that the franchise sells, the company decided to test for impairment for the franchise ar the end of finanical year
recovarable amounts
30 June 2019 - $72,000
30 June 2020, $68000
30 June 2021 - $71 000
Calculate carrying amount of franchise as at 30 June 2019
Calculate carrying amount of franchise as at 30 June 2020
Calculate carrying amount of franchise as at 30 June 2021
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Forensic And Investigative Accounting
Authors: Crumbley D. Larry, Fenton Edmund D., Jr. Smith G. Stevenson
9th Edition
0808053221, 9780808053224
