Scribd
Upload
756 views4 pages

Assignment 4.2 Intangible Assets - ACCTG 018-ACTCY21S3 - Intermediate Accounting 2

This document contains an assignment for an intermediate accounting course. It provides instructions for a 5 question quiz on intangible assets. It gives the due date, time limit, and honor pledge statement. It then shows the student's attempt history, including getting full credit on their first attempt in 25 minutes. The document lists the 5 multiple choice questions asking about franchise costs, present value calculations, research and development costs, computer software costs, and impairment losses.

Uploaded by

Maxine Constantino
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
756 views4 pages

Assignment 4.2 Intangible Assets - ACCTG 018-ACTCY21S3 - Intermediate Accounting 2

This document contains an assignment for an intermediate accounting course. It provides instructions for a 5 question quiz on intangible assets. It gives the due date, time limit, and honor pledge statement. It then shows the student's attempt history, including getting full credit on their first attempt in 25 minutes. The document lists the 5 multiple choice questions asking about franchise costs, present value calculations, research and development costs, computer software costs, and impairment losses.

Uploaded by

Maxine Constantino
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 4

9/23/21, 11:19 AM Assignment 4.

2 Intangible assets: ACCTG 018-ACTCY21S3 - Intermediate Accounting 2

Assignment 4.2 Intangible assets


Due
Sep 23 at 1:40pm
Points
25
Questions
5
Available
Sep 21 at 1:30pm - Sep 23 at 1:40pm
2 days
Time Limit
None

Instructions
Hello, future CPAs,

Compute the correct numerical answer.

Reminder on your honor pledge:

“I affirm that I have not given or received any unauthorized help in this assignment and that this work is
my own.”

Thanks,

Mr. Veloso 

Attempt History
Attempt Time Score
LATEST Attempt 1
25 minutes 25 out of 25


Correct answers will be available Sep 23 at 3pm - Oct 9 at 7:30pm.

Score for this quiz:


25 out of 25
Submitted Sep 23 at 11:18am
This attempt took 25 minutes.

Question 1 5
/ 5 pts

On January 1, 2019, Bella Aldama purchased a franchise right from Sergio


Company at 5,000,000 in a period in years of 10.
The term of payments includes a down payment in cash of 20% and the balance
is payable in 5 equal payments every end of the year, by issuing a noninterest
bearing note. The effective rate is 12%. Determine the franchise cost at January
1, 2019.
https://tip.instructure.com/courses/22859/quizzes/261422?module_item_id=1847959 1/4
9/23/21, 11:19 AM Assignment 4.2 Intangible assets: ACCTG 018-ACTCY21S3 - Intermediate Accounting 2

3,883,840

Question 2 5
/ 5 pts

On January 1, 2019, Bella Aldama purchased a franchise right from Sergio


Company at 5,000,000 in a period in years of 10.
The term of payments includes a down payment in cash of 20% and the balance
is payable in 5 equal payments every end of the year, by issuing a noninterest
bearing note. The effective rate is 12%. Determine the present value of the note
payable at December 31, 2019 (round off to nearest peso amount).

2,429,901

Question 3 5
/ 5 pts

Related data:
Completion of detailed program design                                                1,300,000
Coding and testing costs to establish technological feasibility       1,000,000
Coding costs after establishment of technological feasibility        2,400,000
Testing costs after establishment of technological feasibility        2,000,000
Cost of producing product masters for training materials                              
1,500,000
Duplication of computer software and training materials                              
2,500,000
Packaging product                                                                                               900,000
How much is the research and development cost?

2,300,000

https://tip.instructure.com/courses/22859/quizzes/261422?module_item_id=1847959 2/4
9/23/21, 11:19 AM Assignment 4.2 Intangible assets: ACCTG 018-ACTCY21S3 - Intermediate Accounting 2

Question 4 5
/ 5 pts

Related data:
Completion of detailed program design                                                1,300,000
Coding and testing costs to establish technological feasibility       1,000,000
Coding costs after establishment of technological feasibility        2,400,000
Testing costs after establishment of technological feasibility        2,000,000
Cost of producing product masters for training materials                              
1,500,000
Duplication of computer software and training materials                              
2,500,000
Packaging product                                                                                               900,000
How much is the computer software?

5,900,000

Question 5 5
/ 5 pts

Thailand Company incurred 1,600,000 of research and development cost


to develop a product for which a patent was granted at the beginning of
the current year.                                        

Legal fees and other costs associated with registration of the patent is
450,000.

The entity also paid 300,000 for legal fees in a successful defence of the
patent.            

Patent legal life in years is 9 & useful life in years is 10.

Assuming, at year-end, Thai Company expected that the patent annual


net cash flows of P60,000 with a present value of an ordinary annuity of 1
for 9 periods at 9% is         6.00. How much is the impairment loss?     

https://tip.instructure.com/courses/22859/quizzes/261422?module_item_id=1847959 3/4
9/23/21, 11:19 AM Assignment 4.2 Intangible assets: ACCTG 018-ACTCY21S3 - Intermediate Accounting 2

40,000

Quiz Score:
25 out of 25

https://tip.instructure.com/courses/22859/quizzes/261422?module_item_id=1847959 4/4

You might also like