Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 06 Apr 2018 My Price 8.00

Sandhill Co

Exercise 9-12 On January 1, 2017, Sandhill Co. had a balance of $407,000 of goodwill on its balance sheet that resulted from the purchase of a small business in a prior year. The goodwill had an indefinite life. During 2017, the company had the following additional transactions. Jan. 2 July 1 Sept. 1 Purchased a patent (6-year life) $351,750. Acquired a 10-year franchise; expiration date July 1, 2,027, $583,200. Research and development costs $189,000. Prepare the necessary entries to record the transactions related to intangibles. All costs incurred were for cash. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS

Exercise 9-12 On January 1, 2017, Sandhill Co. had a balance of $407,000 of goodwill on its balance sheet that resulted from the purchase of a small business in a prior year. The goodwill had an indefinite life. During 2017, the company had the following additional transactions. Jan. 2 July 1 Sept. 1 Purchased a patent (6-year life) $351,750. Acquired a 10-year franchise; expiration date July 1, 2,027, $583,200. Research and development costs $189,000. Prepare the necessary entries to record the transactions related to intangibles. All costs incurred were for cash. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS

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Maurice Tutor
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Status NEW Posted 06 Apr 2018 04:04 PM My Price 8.00

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