Scribd Logo
Upload

Welcome to Scribd!

  • Document 18

    Uploaded by

    qnlrnr mlla
    1 views3 pages
    Jen Company acquired 15,000 shares of its own stock for Rs. 120 per share on January 1, 2023. Jen Company had 90,000 shares outstanding with a carrying amount that differed from the fair value due to an intangible broadcast license asset that is amortized over 10 years on a straight line basis. Alpha Company must compute investment income for 2022 and 2023 and determine the carrying amount of its investment in Jen Company on December 31, 2022.

    Original Description:

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Jen Company acquired 15,000 shares of its own stock for Rs. 120 per share on January 1, 2023. Jen Company had 90,000 shares outstanding with a carrying amount that differed from the fair value due to an intangible broadcast license asset that is amortized over 10 years on a straight line basis. Alpha Company must compute investment income for 2022 and 2023 and determine the carrying amount of its investment in Jen Company on December 31, 2022.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    1 views3 pages

    Document 18

    Uploaded by

    qnlrnr mlla
    Jen Company acquired 15,000 shares of its own stock for Rs. 120 per share on January 1, 2023. Jen Company had 90,000 shares outstanding with a carrying amount that differed from the fair value due to an intangible broadcast license asset that is amortized over 10 years on a straight line basis. Alpha Company must compute investment income for 2022 and 2023 and determine the carrying amount of its investment in Jen Company on December 31, 2022.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 3

    jen Company acquired 15,000 shares of jen Company on January 1, 2023 at P 120 per

    share. jen Company had 90,000 shares outstanding with a carrying amount of
    The difference between the carrying amount and fair value of jen Company on January 1,
    2023 is attributable to a broadcast license intangible asset.

    Alpha Company has a 10-year straight line amortization policy for the broadcast
    license.

    Required:
    1. Compute the investment income for 202
    2. Compute the investment income for 2023.
    3. Determine the carrying amount of the investment in
    associate on December 31, 2022.

    You might also like