Information about the assets of TAP Holdings is provided below:

TAP purchased land on January $1,2013$ for $$500$ million. As of January $1,2018,$ the fair value was estimated to be $$550$ million.

TAP purchased a trademark on January $1,2016$ for $$300$ million. As of January $1,2018,$ the fair value was estimated to be $$200$ million.

TAP acquired a company on Jun $5,2016$ and recognized $$1100$ million in goodwill as a result. A $$150$ million goodwill impairment was recognized at year end $2017.$

Assume a useful life of $5$ years and the straight$-$line method for any depreciable or amortizable assets above.

Assume TAP reports under US GAAP.

What is the total value of these assets reported on TAP$’$s balance sheet as of January $1,2018$

$$1,610$ million

$$1,650$ million

$$1,700$ million

$$1,800$ million

Answer rating: 100% (QA)

ANSWER Lets calculate the total value of assets reported on TAPs balance sheet as of January 1 2018 ... View the full answer