Homework Answers
Journal Entry to clear intangible assets is as follows :-
Copyright A/c Dr. $20,000
Research & development costs A/c Dr. $40,000
Patent Legal Cost A/c Dr. (12000+3000) $15,000
Prepaid fire Insurance premium A/c Dr. $6,000
Franchise agreement cost A/c Dr. $40,000
Advertising Cost A/c Dr. $16,000
Other original cost expense A/c Dr. $7,000
To Intangible Asset A/c $144,000
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CHAPTER 10 Property, Plant, and Equipment and Intangible Assets: Acquisition 565 Prepare a schedule analyzing the...
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can
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information concerning Martinez Corporation’s intangible assets
is as follows
1.On January 1, 2020, Martinez signed an agreement to operate as
a franchisee of Hsian Copy Service, Inc. for an initial franchise
fee of $77,500. Of this amount, $15,500 was paid when the agreement
was signed, and the balance is payable in 4 annual payments of
$15,500 each, beginning January 1, 2021. The agreement provides
that the down payment is not refundable and no future services are
required of the franchisor....
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can
you please answer the questions that were not correct, please.
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