Chapter+12+Solutions+Vol.9+Part+1

Chapter+12+Solutions+Vol.9+Part+1 - SOLUTIONS TO EXERCISES...

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SOLUTIONS TO EXERCISES EXERCISE 12-1 (15-20 minutes) (a) 3, 10, 13, 15, 16, 17, 19, 20*, 23, 26** (b) 1. Long-term investments in the balance sheet. 2. Biological asset in the balance sheet. 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. Expensed in the income statement 8. Operating losses in the income statement. 9. Expensed 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. 21. Long-term investments, or other assets, in the balance sheet. 22. Expensed in the income statement. 24. Expensed in the income statement. 25. Intangible asset to the extent a lump sum was paid in advance to secure the contract since it is identifiable, separable (as based on a contractual period), lacks physical substance and is non-monetary. The intangible is then amortized as the services are provided. Note that if
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This note was uploaded on 08/02/2011 for the course ACCT 352 taught by Professor Freeman during the Summer '11 term at Windsor.

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Chapter+12+Solutions+Vol.9+Part+1 - SOLUTIONS TO EXERCISES...

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