Business, 23.11.2019 03:31 stankyweezle
These are selected 2022 transactions for flounder corporation: jan. 1 purchased a copyright for $96,000. the copyright has a useful life of 6 years and a remaining legal life of 30 years. mar. 1 purchased a patent with an estimated useful life of 4 years and a legal life of 20 years for $39,000. sept. 1 purchased a small company and recorded goodwill of $126,000. its useful life is indefinite.
prepare all adjusting entries at december 31 to record amortization required by the events.
(credit account titles are autom entered. do not indent manually. if no entry is required, select "no entry" for the account titles and enter 0 for the
date account titles and explanation debit credit
dec. 31 |amortization expense 16000
16000
(to record amortization of copyrights)
dec. 31 amortization expense
(to record amortization of patents)
dec. 31 (to record amortization of goodwill)
Answers: 3
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These are selected 2022 transactions for flounder corporation: jan. 1 purchased a copyright for $96...
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