ACT_3391_Chp_12_Homework_Solutions

ACT_3391_Chp_12_Homework_Solutions - Intermediate...

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Intermediate Accounting I Amanda N. Paul, CPA, MBA Troy University
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Chapter 12 EXERCISE 12-1 (a) 10, 13, 15, 16, 17, 19, 23 (b) 1. Long-term investments in the balance sheet. 2. Property, plant, and equipment in the balance sheet. 3. Research and development expense in the income statement. 4. Current asset (prepaid rent) in the balance sheet. 5. Property, plant, and equipment in the balance sheet. 6. Research and development expense in the income statement. 7. Charge as expense in the income statement. 8. Operating losses in the income statement. 9. Charge as expense in the income statement. 11. Not recorded; any costs related to creating goodwill incurred internally must be expensed. 12. Research and development expense in the income statement. 14. Research and development expense in the income statement. 18. Research and development expense in the income statement. 20. Research and development expense in the income statement. 21. Long-term investments, or other assets, in the balance sheet. 22. Expensed in the income statement.
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EXERCISE 12-4 1. Alatorre should report the patent at $600,000 (net of $400,000 accumulated amortization) on the balance sheet. The computation of accumulated
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ACT_3391_Chp_12_Homework_Solutions - Intermediate...

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