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 > Accounting Posted 12 Aug 2017 My Price 6.00

Freitas Corporation

E 10'5: Intangibles

LO10'1

Freitas Corporation was organized early in 2013. The following expenditures were made during the first few months of the year:

Attorneys' fees in connection with the organization of the corporation $12,000.00

State filing fees and other incorporation costs 3,000.00

Purchase of Patent 20,000.00

Legal and other fees for transfer of patent 2,000.00

Purchase of furniture 30,000.00

Pre-opening salaries 40,000.00

Total $ 107,000.00

Required:

Prepare a summary journal entry to record the $107,000 in cash expenditures.

Answers

Maurice Tutor
(5)
Status NEW Posted 12 Aug 2017 12:08 AM My Price 6.00

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