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Impairment of Patent - Fair value of patent is estimated to be 100,000 - Current carrying value of the patent on the books is 200,000
Impairment of Patent
- Fair value of patent is estimated to be 100,000
- Current carrying value of the patent on the books is 200,000
- Over the remaining useful life of the patent, the patent will generate 300,000 in net cash flows.
Should there be any adjustments at year-end to properly present the patent on the balance sheet? Why ?
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Petroleum Accounting: Principles, Procedures; And Issues
Authors: Dennis Jennings, John Brady, Rich Shappard, Craig Friou
8th Edition
0940966328, 978-0940966321
