Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Reichenbach Co., organized in 2011, has set up a single account for all intangible assets. The following summary discloses the debit entries that have been recorded during 2012 and 2013.
Intangible Assets
01-Jul-12
8-year franchise; expiration date 6/30/19
51,840
01-Oct-12
Advance payment on laboratory space (2-year lease)
$26,080
31-Dec-12
Net loss for 2011 including state incorporation fee,
1,960,
and related legal fees of organizing, $4,620 (all fees
incurred in 2011)
16,030
02-Jan-13
Patent purchased (10-year life)
84,280
01-Mar-13
Cost of developing a secret formula (indefinite life)
79,370
01-Apr-13
Goodwill purchased (indefinite life)
275,060
01-Jun-13
Legal fee for successful defense of patent
22,885
01-Sep-13
Research and development costs
153,900
Prepare the necessary entries to clear the Intangible Assets account and to set up separate accounts for distinct types of intangibles. Make the entries as of December 31, 2013, recording any necessary amortization and reflecting all balances accurately as of that date.
Assume that you have decided that there are significant weaknesses in the physical controls over inventory that would be reduced with a new AIS that supports JIT inventories. Write a memorandum to the CFO describing how this might affect the inven..
Evaluate relevant range of activity for this product and the relevant range of activity for this product ___?????___________ units
Determine the ending balance of unadjusted the trial and what is the ending balance of the cash account
Show what information Captain Peachfuzz may provide to the auditor about Baddenoff possible claim against Natasha. (Assume that the amount involved is material to Natasha.)
Consider the statement by Mayor Jerry Abramson about the Louisville Checkbook: With a few clicks, Louisville, KY residents can now see exactly how city government is spending their tax dollars Do you agree or disagree with this statement? Defend y..
What basis of accounting do enterprise and internal service funds use and Which of the following is not a GASB-required statement for proprietary fun
Should the government mandate minimum standards for controlling and securing information and if so illustrate what would be some advantages and disadvantages?
Determine the accounts receivable turnover ratio and average day's sales in receivables for the current year and Explain the meaning of each number
Compute the gain or loss in the futures hedge after describing in detail all transactions and Calculate the actual cost of purchasing the motorcycles with the hedge.
Whats is the Belita's adjusted basis in the land? If Belita sold the land for $90,000 after 2 years, what woudl be her realized and recognized gain or loss?
If company expects next year's total sales could increase 12%, they want to know ho this change affects their profit. Calculate DOL and then next year's net income in dollar.
Illustrate what entities and/or relationships most likely need to be included in a query to portray the unfilled purchase orders made by each purchasing agent?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd