ACC 310 hw ch 10

ACC 310 hw ch 10 - BRIEF EXERCISE 12-2 Patents Cash Patent...

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BRIEF EXERCISE 12-2 Patents. ..................................................................................... 24,000 Cash . .............................................................................. 24,000 Patent Amortization Expense . ................................................ 8,400 Patents [($43,200 + $24,000) X 1/8 = $8,400] . ................... 8,400 BRIEF EXERCISE 12-5 Purchase price . ............................................................................ $700,000 Fair value of assets . .................................................................... $800,000 Fair value of liabilities . ................................................................ 200,000 Fair value of net assets . .............................................................. 600,000 Value assigned to goodwill . ........................................................ $100,000 BRIEF EXERCISE 12-6 Loss on Impairment. ..................................................................... 190,000 Patents ($300,000 – $110,000) . .......................................... 190,000
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This note was uploaded on 11/21/2009 for the course ACC acc 310 taught by Professor Mlot during the Fall '09 term at N.C. State.

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ACC 310 hw ch 10 - BRIEF EXERCISE 12-2 Patents Cash Patent...

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