could someone please please kindly explain how the following is written in balance sheet and income statement:
1) patents have infinite life, and impairment showed asset selling value is 8000, and value in use is 12000
2) goodwill orginally in 2009 balance sheet as 10000. if goodwill has finite life of 5 years, and we use straight line amortisation
how do these affect balance sheet and IS? i will greatly appreciate if some use my existing values to provide an example.
1) patents have infinite life, and impairment showed asset selling value is 8000, and value in use is 12000
2) goodwill orginally in 2009 balance sheet as 10000. if goodwill has finite life of 5 years, and we use straight line amortisation
how do these affect balance sheet and IS? i will greatly appreciate if some use my existing values to provide an example.