- 6 Marks
FR – Nov 2021 – L2 – Q6b – Property, Plant, and Equipment (IAS 16)
Analyze the non-current assets register for Olugbenga Nigeria Limited and compute the total carrying amount.
Question
The following information was extracted from the non-current assets register of Olugbenga Nigeria Limited for the year ended March 31, 2021.
Also, during the year, goodwill acquired from business combination amounted to N102 million. The year-end impairment test on the goodwill revealed a loss of N82 million.
Annual amortisation charge on the internally generated development costs and software
licences are based on their estimated useful life of 10 years and 15 years respectively.
The accumulated amortisations on the disposal were N110million and N40million for
development cost and software licences respectively.
Required:
Prepare a summary of the non-current assets register for Olugbenga Nigeria Limited as at March 31, 2021, showing the carrying amount of each class of asset.
Find Related Questions by Tags, levels, etc.
- Tags: Development Costs, Goodwill, Non-current Assets, Software Licences
- Level: Level 2
- Topic: Property, Plant, and Equipment (IAS 16)
- Series: NOV 2021