Chapter 12 Homework - fees $15,000 Costs of meetings 7,000...

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Chapter 10: Acquisition and Disposition of Property, Plant, and Equipment  Tiffany Watt Homework November 3, 2010 AC 301 – 01   Brief Exercises BE12-3 Account Titles Debit Credit Trademarks $60,000 Cash $60,000 Amortization Ex. - Trademarks $7,500 Accum. Amort. - Trademarks $7,500 BE12-5 Account Titles Debit Credit Franchise $100,00 0 Cash $100,00 0 Amortization Ex. - Franchise $9,375 Accum. Amort. - Franchise $9,375
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Chapter 10: Acquisition and Disposition of Property, Plant, and Equipment  Tiffany Watt Homework November 3, 2010 AC 301 – 01   Exercises E12-6 Date Account Titles Debit Credit Dec. 2007 31 Patent $350,00 0 Goodwill 360,000 Franchise 450,000 Copyright 156,000 215,000 Intangible Assets $1,531,0 00 31 Amortization Ex. - Patent $43,750 Accum. Amort. - Patent $43,750 31 Amortization Ex. - Franchise $22,500 Accum. Amort. - Franchise $22,500 31 Amortization Ex. - Copyright $13,000 Accum. Amort. - Copyright $13,000 E12-8 ( a ) Attorney's
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Unformatted text preview: fees $15,000 Costs of meetings 7,000 State filing fees 1,000 Total $23,000 Chapter 10: Acquisition and Disposition of Property, Plant, and Equipment Tiffany Watt Homework November 3, 2010 AC 301 – 01 ( b ) Account Titles Debit Credit Organization Expense $23,000 Cash $23,000 Chapter 10: Acquisition and Disposition of Property, Plant, and Equipment Tiffany Watt Homework November 3, 2010 AC 301 – 01 E12-12 Cash $100,00 Land 100,000 Building, Net 200,000 Equipment, Net 170,000 Copyright, Net 30,000 Liabilities (350,00 0) Fair market value of net identifiable assets $250,00 Purchase price 350,000 Value assigned to goodwill $100,00 Account Titles Debit Credit Cash $100,00 Land 100,000 Building 200,000 Equipment 170,000 Copyright 30,000 Goodwill 100,000 Liabilities $350,00 Cash 350,000...
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This note was uploaded on 09/01/2011 for the course BUSINESS 101 taught by Professor - during the Spring '11 term at Mississippi Valley State University.

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Chapter 12 Homework - fees $15,000 Costs of meetings 7,000...

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