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dsp73
3 years ago
14

Johan Co. has an intangible asset, which it estimates will have a useful life of 10 years, while Abco Co. has goodwill, which ha

s an indefinite life. Which company should report amortization in its financial statements
Business
1 answer:
Marrrta [24]3 years ago
5 0

Answer:

Johan Co.

Explanation:

Since in the question it is given that the Johan Co. has an intangible asset and we already know that on an intangible asset, the amortization expense is charged whereas on the other side the Abco Co has goodwill on which the impairment is charged

So, in the given scenario, the amortization should be reported on Johan Co financial statements only

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