Chapter 12 - graded homework - Summer 2011

Chapter 12 - graded homework - Summer 2011 - CHAPTER 12...

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Unformatted text preview: CHAPTER 12 HOMEWORK EXERCISE 12-6 Patents.................................................................... 380,000 Goodwill.................................................................. 360,000 Franchise................................................................ 450,000 Copyright................................................................ 156,000 Research and Development Expense................. 215,000 Intangible Assets.......................................... 1,561,000 Amortization Expense........................................... 79,250 Patents ($380,000/8)..................................... 47,500 Franchise ($450,000/10 X 6/12)................... 22,500 Copyright ($156,000/5 X 5/12)..................... 13,000 Balance of Intangible Assets as of December 31, 2010 Patents = $380,000 – $47,500 = $332,500 Goodwill = $360,000 (no amortization) Franchise = $450,000 – $22,500 = $427,500 Copyright = $156,000 – $13,000 = $143,000 EXERCISE 12-12 Net assets of Terrell as reported...
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This note was uploaded on 07/17/2011 for the course ACC 306 taught by Professor Rogero during the Summer '11 term at University of Dayton.

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Chapter 12 - graded homework - Summer 2011 - CHAPTER 12...

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