Presented below is information related to copyrights owned by Sunland Company at December 31, 2020. Cost $8,520,000
Carrying amount 4,470,000
Expected future net cash flows 4,020,000
Fair value 3,450,000

Assume that Sunland Company will continue to use this copyright in the future. As of December 31, 2020, the copyright is estimated to have a remaining useful life of 10 years.

Required:
a. Prepare the journal entry to record the impairment of the asset at December 31, 2020. The company does not use accumulated amortization accounts.
b. Prepare the journal entry to record amortization expense for 2021 related to the copyrights.

Areal estate agent is considering changing her cell phone plan. there are three plans to choose from, all of which involve a monthly service charge of $20. plan a has a cost of $.42 a minute for daytime calls and $.17 a minute for evening calls. plan b has a charge of $.52 a minute for daytime calls and $.15 a minute for evening calls. plan c has a flat rate of $80 with 275 minutes of calls allowed per month and a charge of $.38 per minute beyond that, day or evening. a. determine the total charge under each plan for this case: 150 minutes of day calls and 70 minutes of evening calls in a month. (do not round intermediate calculations. round your answer to 2 decimal places. omit the "$" sign in your response.)c. if the agent will use the service for daytime calls, over what range of call minutes will each plan be optimal? (round each answer to the nearest whole number. include the indifference point itself in each answer.)d. suppose that the agent expects both daytime and evening calls. at what point (i. e., percentage of total call minutes used for daytime calls) would she be indifferent between plans a and b?