WK 4 LT P12-3 upload - Chapter 12 P12-3 1. On January 1,...

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Chapter 12 P12-3 A) Dec 31, 2001 Franchise Net of accumulated amorization of $5,870 (Schedule 1) $52,830 Patent Net of accumulated amortiation of $1700 (Schedule 2) 11,900 Trademark, net of accumulated amortization of $5,840 (Schedule 3) 34,320 Total intangible assets 99,050 Schedule 1 Franchise on Jan 1 Cost of Franchise ($15,000 + $43,700) $58,700 2007 amortization ($58,000 x 1/10) -5,870 Cost of franchise, net of amortization $52,830 Schedule 2 Patent Cost of securing patent $13,600 2007 amortization ($13,600 x 1/8) -1,700 Cost of patent, net of amortization $11,900 Schedule 3 Trademark Cost of trademark 32,000 Amortization from 7/2004 to 07/2007 (32,000 x 3/20) (4,800) -4,800 Book value after legal defense 27,200 Cost of successfule legal defense on July 2007 8,160 Book value after legal defense 35,360 Amortization, 7/01/2004 to 12/31/2004 ( 35,360 x 1/17 x 6/12) -1,040 Cost of trademark, net of amortization 57,736 B) Schedule of expense resulting from intagible assets transaction for YE
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This note was uploaded on 01/14/2012 for the course ACCOUNTING ACC 422 taught by Professor Unknown during the Spring '11 term at University of Phoenix.

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