Question
Presented below is information related to copyrights owned by Botticelli Company at December 31, 2015. Cost $8,600,000 Carrying amount 4,300,000 Recoverable amount 3,400,000 Assume that
Presented below is information related to copyrights owned by Botticelli Company at December 31, 2015. Cost $8,600,000 Carrying amount 4,300,000 Recoverable amount 3,400,000 Assume that Botticelli Company will continue to use this copyright in the future. As of December 31, 2015, the copyright is estimated to have a remaining useful life of 10 years. The amount of impairment of the copyrights at December 31, 2015 is: a. 900000 b. 4300000 G 5200000 d. none of the above On January 1, 2010, Al-Noor Company issued 10-year bonds with a face value of $1,000,000 and a stated interest rate of 12%, With interest payable each July 1 and January 1. The bonds were sold to yield (Market rate) 10%. Table values are: Present value of 1 for 20 periods at 5% Present value of 1 for 10 periods at 10% Present value of 1 for 20 periods at 6% Present value of 1 for 20 periods at 12% Present value of annuity for 20 periods at 5% Present value of annuity for 10 periods at 10% Present value of annuity for 20 periods at 6% Present value of annuity for 20 periods at 12% The Present value (issue price) of the bonds is: a. $1228820. b. $1157600. C. $1453660. d. $1429120. .725 .764 .820 .790 7.210 7.747 10.561 10.652
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