Balance sheet exercise balance sheet exercise

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Unformatted text preview: p;E I nt angibles (9 7 5 ,0 0 0 ) 2 ,17 0 ,3 8 6 Go o d will Pa t e nt s T r ad e m ar k Fr a nc h is e s Co py r ig h t T o t a l int a ng ib le s Ot her asset s 2 ,0 0 0 ,0 0 0 17 7 ,0 0 0 4 0 ,0 0 0 12 5 ,0 0 0 5 5 ,0 0 0 2 ,3 9 7 ,0 0 0 Pr e paid pe ns io n c o s t s De f e r r e d inc o m e t a x T o t a l o t h e r 13 3 ,0 0 0 4 0 ,0 0 0 17 3 ,0 0 0 LO 2 Identify the major classifications of the balance sheet. Balance Sheet – “Exercise” Balance Sheet – “Exercise” Intangibles (BE5-6): KC’s adjusted trial balance contained the following asset accounts at December 31, 2010: Prepaid Rent $12,000; Goodwill $50,000; Franchise Fees Receivable $2,000; Franchises $47,000; Patents $33,000; Trademarks $10,000. Prepare the intangible assets section of the balance sheet. Intangibles Goodwill $ 50,000 Franchises 47,000 Patents 33,000 Trademarks 10,000 Total Chapter 5-27 $140,000 LO 2 Identify the major classifications of the balance sheet. Balance Sheet – “Noncurrent Assets” Balance Sheet – “Noncurrent Assets” Balance Sheet ( in t h o us a nd s ) Current asset s Other Assets Ca s h This section should include only unusual items sufficiently different from assets in the ot...
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