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Given the following account balances at year-end, compute the total intangible assets on the balance sheet...
please help with these accouting questions! 19. Given the following account balances at year end, compute...
please help with these accouting questions!
19. Given the following account balances at year end, compute the total intangible assets on the balance sheet of Janssen Enterprises. Cash $1,500,000 Accounts Receivable 1,000,000 Trademarks 1,200,000 Goodwill 2,500,000 Research & Development Costs 2,000,000 A) $9,700,000 B) $5,700,000. C) $3,700,000 D) $7,700,000 20. On July 1, 2017, Linden Company purchased the copyright to Norman Computer Tutorials for $210,000. It is estimated that the copyright will have a useful life of 5 years. The...
Use the following account balance information to compute TOTAL ASSETS as of the END of the...
Use the following account balance information to compute TOTAL ASSETS as of the END of the year. Cost of Goods Sold $9,000 Accounts Payable 1,100 Paid-in Capital 2,000 Cash 400 Sales 10,000 Dividends 700 Retained Earnings (beginning) 1,000 Inventory 4,000
Ivanhoe Limited organized late in 2019 and set up a single account for all intangible assets....
Ivanhoe Limited organized late in 2019 and set up a single account for all intangible assets. The following summary shows the entries in 2020 (all debits) that have been recorded in Intangible Assets since then: Jan. 2 Purchased patent (8-year life) $338,000 Mar. 31 Costs to search for new ways to apply patent that was purchased on Jan. 2 21,000 Apr. 1 Purchased goodwill (indefinite life) 314,000 July Purchased franchise with 10-year life; expiration date July 1, 2030 257,000 1...
Trotman Company had three intangible assets at the end of 2019 (end of the accounting year):...
Trotman Company had three intangible assets at the end of 2019 (end of the accounting year): a. Computer software and website development technology purchased on January 1, 2018, for $78,000. The technology is expected to have a four-year useful life to the company with no residual value. b. A patent purchased from lan Zimmer on January 1, 2019, for a cash cost of $30,000. Zimmer had registered the patent with the U.S. Patent and Trademark Office five years ago. Trotman...
Wolfpack Construction has the following account balances at the end of the year. Accounts Balances Equipment...
Wolfpack Construction has the following account balances at the end of the year. Accounts Balances Equipment $ 19,000 Accounts payable 1,600 Salaries expense 26,000 Common stock 12,000 Land 11,000 Notes payable 13,000 Service revenue 32,000 Cash 4,600 Retained earnings ? Use only the appropriate accounts to prepare a balance sheet. WOLFPACK CONSTRUCTION Balance Sheet Assets Liabilities Total liabilities Stockholders’ Equity Total stockholders’ equity Total assets Total liabilities and stockholders’ equity
Joni Skysong Inc. has the following amounts reported in its general ledger at the end of...
Joni Skysong Inc. has the following amounts reported in its general ledger at the end of the current year. Organization costs $22,600 Trademarks 13,300 Discount on bonds payable 35,600 Deposits with advertising agency for ads to promote goodwill of company 10,600 Excess of cost over fair value of net identifiable assets of acquired subsidiary 75,600 Cost of equipment acquired for research and development projects; the equipment has an alternative future use 85,600 Costs of developing a secret formula for a...
Joni Metlock Inc. has the following amounts reported in its general ledger at the end of...
Joni Metlock Inc. has the following amounts reported in its
general ledger at the end of the current year.
Organization costs
$22,300
Trademarks
12,700
Discount on bonds payable
35,300
Deposits with advertising agency for ads to promote goodwill of
company
10,300
Excess of cost over fair value of net identifiable assets of
acquired subsidiary
75,300
Cost of equipment acquired for research and development
projects; the
equipment has an alternative future use
85,300
Costs of developing a secret formula for a...
Klein Interiors has the following account balances at the end of the year. Use only the...
Klein Interiors has the following account balances at the end of the year. Use only the appropriate accounts to prepare a balance sheet. Accounts Equipment Accounts payable Common stock Service revenue Cash Retained earnings Salaries expense Notes payable Balances $ 79,700 16,400 16.100 57,300 8,200 31,800 22.300 KLEIN INTERIORS Balance Sheet December 31 Liabilities Total abilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Total assets
PLEASE HELP AS SOON AS POSSIBLE The intangible assets section of Sheffield Corporation's balance sheet at...
PLEASE HELP AS SOON AS
POSSIBLE
The intangible assets section of Sheffield Corporation's balance sheet at December 31, 2017, is presented here. Patents ($88,900 cost less $8,890 amortization) $80,010 Copyrights ($36,500 cost less $25,550 amortization) 10,950 Total $90,960 The patent was acquired in January 2017 and has a useful life of 10 years. The copyright was acquired in January 2011 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2018....
Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts...
Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $19,500 1,700 26,500 11,000 11,500 13,500 32,500 4,700 Required: Use only the appropriate accounts to prepare a balance sheet. WOLFPACK CONSTRUCTION Balance Sheet December 31 Assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Total assets
please help with these accouting questions!
19. Given the following account balances at year end, compute the total intangible assets on the balance sheet of Janssen Enterprises. Cash $1,500,000 Accounts Receivable 1,000,000 Trademarks 1,200,000 Goodwill 2,500,000 Research & Development Costs 2,000,000 A) $9,700,000 B) $5,700,000. C) $3,700,000 D) $7,700,000 20. On July 1, 2017, Linden Company purchased the copyright to Norman Computer Tutorials for $210,000. It is estimated that the copyright will have a useful life of 5 years. The...
Ivanhoe Limited organized late in 2019 and set up a single account for all intangible assets. The following summary shows the entries in 2020 (all debits) that have been recorded in Intangible Assets since then: Jan. 2 Purchased patent (8-year life) $338,000 Mar. 31 Costs to search for new ways to apply patent that was purchased on Jan. 2 21,000 Apr. 1 Purchased goodwill (indefinite life) 314,000 July Purchased franchise with 10-year life; expiration date July 1, 2030 257,000 1...
Trotman Company had three intangible assets at the end of 2019 (end of the accounting year): a. Computer software and website development technology purchased on January 1, 2018, for $78,000. The technology is expected to have a four-year useful life to the company with no residual value. b. A patent purchased from lan Zimmer on January 1, 2019, for a cash cost of $30,000. Zimmer had registered the patent with the U.S. Patent and Trademark Office five years ago. Trotman...
Joni Metlock Inc. has the following amounts reported in its
general ledger at the end of the current year.
Organization costs
$22,300
Trademarks
12,700
Discount on bonds payable
35,300
Deposits with advertising agency for ads to promote goodwill of
company
10,300
Excess of cost over fair value of net identifiable assets of
acquired subsidiary
75,300
Cost of equipment acquired for research and development
projects; the
equipment has an alternative future use
85,300
Costs of developing a secret formula for a...
Klein Interiors has the following account balances at the end of the year. Use only the appropriate accounts to prepare a balance sheet. Accounts Equipment Accounts payable Common stock Service revenue Cash Retained earnings Salaries expense Notes payable Balances $ 79,700 16,400 16.100 57,300 8,200 31,800 22.300 KLEIN INTERIORS Balance Sheet December 31 Liabilities Total abilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Total assets
PLEASE HELP AS SOON AS
POSSIBLE
The intangible assets section of Sheffield Corporation's balance sheet at December 31, 2017, is presented here. Patents ($88,900 cost less $8,890 amortization) $80,010 Copyrights ($36,500 cost less $25,550 amortization) 10,950 Total $90,960 The patent was acquired in January 2017 and has a useful life of 10 years. The copyright was acquired in January 2011 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2018....
Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $19,500 1,700 26,500 11,000 11,500 13,500 32,500 4,700 Required: Use only the appropriate accounts to prepare a balance sheet. WOLFPACK CONSTRUCTION Balance Sheet December 31 Assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Total assets
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