Business, 10.04.2020 05:01, wickedskatboarder
Acquisition and Amortization of Intangible Assets TLM Technologies had these transactions related to intangible assets during 2019. Jan. 2 Purchased a patent from Luna Industries for $175,000. The remaining legal life of the patent is 15 years, and TLM expects the patent to be useful for 8 years. Jan. 5 Paid legal fees in a successful legal defense of the patent of $90,000. June 29 Registered a trademark with the federal government. Registration costs were $4,000. TLM expects to use the trademark indefinitely Sept. 2 Paid research and development costs of $478,200. Required: 1. Prepare the journal entries necessary to record the transactions. 2019 Jan. 2 - (Purchased patent) 2019 Jan 5 - (Paid legal fees to defend petent) 2019 June 29 - (Purchased trademark) 2019 Sept. 2 (Paid R&D costs) 2. Prepare the entries necessary to record amortization expense for the intangible assets. If no entry is required, type "No entry required' and leave the amount boxes blank. 2019 Dec. 31 (Record patent amortization) 2019 Dec. 31 (Record trademark amortization) 3. What is the balance of the intangible assets at the end of 2019?
Answers: 3
Business, 22.06.2019 20:40, homework1911
Cherokee inc. is a merchandiser that provided the following information: amount number of units sold 20,000 selling price per unit $ 30 variable selling expense per unit $ 4 variable administrative expense per unit $ 2 total fixed selling expense $ 40,000 total fixed administrative expense $ 30,000 beginning merchandise inventory $ 24,000 ending merchandise inventory $ 44,000 merchandise purchases $ 180,000 required: 1. prepare a traditional income statement. 2. prepare a contribution format income statement.
Answers: 2
Business, 22.06.2019 23:30, icantspeakengles
Sally mitchell works as a manager at an environmental organization. she is currently working on a global warming project and decides which tasks related to creating awareness about the issue need to be done. in addition, she is also deciding which members of her team will work on engaging with the public and which will work on lobbying with the government. she is also assigning people as team members to ensure that tasks are undertaken on time. which of the following categories of functions is mitchell undertaking? envisioning organizing controlling planning
Answers: 1
Acquisition and Amortization of Intangible Assets TLM Technologies had these transactions related to...
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