ACC 310 hw ch 10

ACC 310 hw ch 10 - BRIEF EXERCISE 12-2

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Unformatted text preview: 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).........................................Patents ($300,000 $110,000)....
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ACC 310 hw ch 10 - BRIEF EXERCISE 12-2

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