How to purchased a small company and recorded goodwill, Accounting Basics

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How to purchased a small company and recorded goodwill

These are selected 2012 transactions for Jendusa Corporation: Jan. 1 Purchased a copyright for $120,000. The compyright 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 $54,000. Sep. 1 Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinate. Prepare all adjusting entries at Decmeber 31 to record amorization required by the events

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Accounting Basics: How to purchased a small company and recorded goodwill

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Q : How to purchased a small company and recorded goodwill

These are selected 2012 transactions for Jendusa Corporation: Jan. 1 Purchased a copyright for $120,000. The compyright has a useful life of 6 years and a remaining legal life of 30 years.

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Accounting Basics: How to purchased a small company and recorded goodwill

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Recent Questions Asked Accounting Basics

Q : How long does it take for john to pass chad

Q : Calculate asset turnover ratio and return on assets

Q : What is cannons amortization expense

Q : Calculate the angular displacement

Q : How to purchased a small company and recorded goodwill

Q : What is the basis of the intangables at the end

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How to purchased a small company and recorded goodwill

Reference No:- TGS0714321

Recent Questions Asked Accounting Basics

Q : How long does it take for john to pass chad

Q : Calculate asset turnover ratio and return on assets

Q : What is cannons amortization expense

Q : Calculate the angular displacement

Q : How to purchased a small company and recorded goodwill

Q : What is the basis of the intangables at the end

Q : Unit conversion problem

Q : How to calculate the unit costs

Q : Calculate the amount of fixed manufacturing overhead

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