ACCT 5010-INT II-HW-CH 12

ACCT 5010-INT II-HW-CH 12 - 12-1CHAPTER 12Intangible...

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Unformatted text preview: 12-1CHAPTER 12Intangible AssetsASSIGNMENT CLASSIFICATION TABLETopicsQuestionsBriefExercisesExercisesProblemsCases1.Intangible assets;concepts, definitions;items comprisingintangible assets.1, 2, 3, 4, 5, 6,7, 8, 9, 10, 11,12, 13, 141, 2, 3, 5,61, 2, 3, 41, 2, 32.Patents; franchise;organization costs;trade name.9, 10, 13, 14,251, 2, 3, 4, 5,7, 11, 124, 5, 6, 7,8, 9, 10,11, 131, 2, 3, 41, 23.Goodwill.12, 13, 14, 186, 86, 12, 13,1554.Impairment ofintangibles.15, 16, 17, 187, 814, 155.Research anddevelopment costsand similar costs.19, 20, 21, 22,23, 249, 10, 1116, 171, 2, 34, 5*6.Computer softwarecosts.26, 27, 281318, 19*This material is covered in an Appendix to the chapter.12-2ASSIGNMENT CHARACTERISTICS TABLEItemDescriptionLevel ofDifficultyTime(minutes)E12-1Classification issuesintangibles.Moderate15-20E12-2Classification issuesintangibles.Simple10-15E12-3Classification issuesintangible asset.Moderate10-15E12-4Intangible amortization.Moderate15-20E12-5Correct intangible asset account.Moderate15-20E12-6Recording and amortization of intangibles.Simple15-20E12-7Accounting for trade name.Simple10-15E12-8Accounting for organization costs.Simple10-15E12-9Accounting for patents, franchises, and R&D.Moderate15-20E12-10Accounting for patents.Moderate20-25E12-11Accounting for patents.Moderate15-20E12-12Accounting for goodwill.Moderate20-25E12-13Accounting for goodwill.Simple10-15E12-14Intangible impairment.Simple15-20E12-15Goodwill impairment.Simple15-20E12-16Accounting for R&D costs.Moderate15-20E12-17Accounting for R&D costs.Moderate10-15*E12-18Accounting for computer software costs.Moderate10-15*E12-19Accounting for computer software costs.Moderate15-20P12-1Correct intangible asset account.Moderate15-20P12-2Accounting for patents.Moderate20-30P12-3Accounting for franchise, patents, and trade name.Moderate20-30P12-4Accounting for R&D costs.Moderate20-25P12-5Goodwill, ImpairmentComplex25-30C12-1Accounting for pollution expenditure.Moderate25-30C12-2Accounting for pre-opening costs.Moderate20-25C12-3Accounting for patents.Moderate25-30C12-4Accounting for research and development costs.Moderate25-30C12-5Accounting for research and development costs, ethics.Moderate20-2512-3ANSWERS TO QUESTIONS1.The two main characteristics of intangible assets are:(a)they lack physical substance.(b)they are not a financial instrument.2.If intangibles are acquired for stock, the cost of the intangible is the fair value of the considerationgiven or the fair value of the consideration received, whichever is more clearly evident.3.Limited-life intangibles should be amortized by systematic changes to expense over their usefullife. An intangible asset with an indefinite life is not amortized....
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ACCT 5010-INT II-HW-CH 12 - 12-1CHAPTER 12Intangible...

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