The copyrights value in use is 1850000 and the selling, Ask an Expert

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The following information is for a copyright owned by Venetian Corp., publicly accountable entity, at December 31, 2010:

Cost $ 4,300,000

Carrying amount 2,150,000

Expected future net cash flows (undiscounted) 2,000,000

Fair value 1,600,000

The copyright's value in use is $1,850,000 and the selling costs are $100,000. Assume that Venetian Corp. will continue to use this copyright in the future. As at December 31, 2010, the copyright is estimated to have a remaining useful life of 10 years

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9445502

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