PLEASE help last attempt Computing Impairment of Patent December 3 1 of Year 5 are estimated to
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PLEASE help last attempt
Computing Impairment of Patent
December of Year are estimated to be $ while the fair value of the patent is estimated to be $ Total estimated useful life remains unchanged.
Required
a Determine annual amortization expense for Year through Year
b Determine the carrying value of the patent on December of before assessing for impairment
c What amount should
d What is the adjusted carring value of the patent on Decem a of
e Assume that the potential health hazard was resolved in Year As a result, the future cash flows from the
patent on December of Year are estimated to be $ while the fair value of the patent is estimated to be $ What amount should ldea record as a loss or recovery on impairment if any in Year
f What is the adjusted carrying value of the patent on December of Year
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