A company acquired an intangible asset on 30th june 2007 for $60,000.The asset was revalued at $80,000

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A company acquired an intangible asset on 30th june 2007 for $60,000.The asset was revalued at $80,000 on 30th June 2008 and $45,000 on 30th june 2009.How should the asset be dealt with in the financial statements?

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International Financial Reporting

ISBN: 9781292293127

7th Edition

Authors: Alan Melville

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Posted Date: Jul 03, 2023 06:55 AM

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A company acquired an intangible asset on 30th june 2007 for $60,000.The asset was revalued at $80,000

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The treatment of the intangible asset in the financial statements would depend on the accounting sta... View the full answer

International Financial Reporting

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