Chapter+12+Solutions+Vol.+9+Part+2

Chapter+12+Solutions+Vol.+9+Part+2 - PROBLEM 12-3(a...

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Unformatted text preview: PROBLEM 12-3 (a) Canberra Corporation Intangible Assets December 31, 2010 Franchise, net of accumulated amortization (Schedule 1) $61,309 Patent, net of accumulated amortization of (Schedule 2) 11,333 Trademark, net of accumulated amortization of (Schedule 3) 29,747 Total intangible assets $102,389 Schedule 1 Franchise Cost of franchise on 1/1/10 ($35,000 + $33,121) $68,121 2010 amortization ($68,121 X 1/10) (6,812 ) Cost of franchise, net of amortization $61,309 Schedule 2 Patent Cost of securing patent on 1/2/10 $13,600 2010 amortization ($13,600 X 1/6) (2,267 ) Cost of patent, net of amortization $11,333 Schedule 3 Trademark Cost of trademark on 7/1/07 $28,600 Amortization, 7/1/07 to 7/1/10 ($28,600 X 3/15) (5,720 ) Book value on 7/1/10 22,880 Cost of successful legal defence on 7/1/10 8,160 Book value after legal defence 31,040 Amortization, 7/1/10 to 12/31/10 ($31,040 X 1/12 X 6/12) (1,293 ) Cost of trademark, net of amortization $29,747 PROBLEM 12-3 (Continued) (b) Canberra Corporation Expenses Resulting from Selected Intangible Assets Transactions...
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Chapter+12+Solutions+Vol.+9+Part+2 - PROBLEM 12-3(a...

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