Given the following account balances at year end, compute the total intangible assets on the balance...
Given the following account balances at year end, compute the total intangible assets on the balance sheet of Sheridan Company.
Cash $1100000
Accounts Receivable $1180000
Trademarks $1335000
Goodwill $2830000
Research & Development Costs $2330000
|
$8825000. |
|
$6495000. |
|
$4165000. |
|
$11155000. |
Homework Answers
| Trademarks | 1335000 |
| Goodwill | 2830000 |
| Total intangible assets | 4,165,000 |
Option C
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Given the following account balances at year end, compute the
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Given the following account balances at year-end, compute the total intangible assets on the balance sheet...
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please help with these accouting questions! 19. Given the following account balances at year end, compute...
please help with these accouting questions!
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Trademarks
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1- Sunland Company, organized in 2019, has set up a single account for all intangible assets. The following summary disc...
1-
Sunland Company, organized in 2019, has set up a single account
for all intangible assets. The following summary discloses the
debit entries that have been recorded during 2020.
1/2/20
Purchased patent (7-year life)
$305,900
4/1/20
Purchase goodwill (indefinite life)
347,000
7/1/20
Purchased franchise with 10-year life; expiration date
7/1/30
427,000
8/1/20
Payment of copyright (5-year life)
152,400
9/1/20
Research and development costs
217,000
$1,449,300
a:Prepare the necessary entry to clear the Intangible Assets
account and to set up separate...
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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...
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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...
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a:Prepare the necessary entry to clear the Intangible Assets
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