Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 4 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 27 Sep 2017 My Price 5.00

Collins Ltd.

Collins Ltd. has these transactions related to intangible assets and goodwill in 2012, its first year of operations:Jan. 2 Purchased a patent with an estimated useful life of five years and a legal life of 20 years for $40,000.Apr. 1 Acquired another company and recorded goodwill of $300,000 as part of the purchase.July 1 Acquired a franchise for $250,000. The franchise agreement expires on July 1, 2019.Sept. 1 Incurred research cost of $150,000.Sept. 30 Incurred development cost of $50,000. No marketable product has been identified as yet.Dec. 31 Recorded annual amortization.Dec 31 Tested the intangible assets for impairment. Recoverable amounts exceeded carrying amounts in all cases. Also tested goodwill and determined that it had a recoverable amount of $270,000.
Instructions(a) Prepare the entries to record the above transactions. Assume all costs incurred were for cash.(b) Show the presentation of the intangible assets and goodwill on the statement of financial position at December 31, 2012.

Answers

Maurice Tutor
(5)
Status NEW Posted 27 Sep 2017 12:09 AM My Price 5.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll

Not Rated(0)