The ledger of Hixson Company at the end of the current year shows Accounts Receivable $120,000, Sales $840,000, and Sales Returns and Allowances $30,000.
BE9-13
Information related to plant assets, natural resources, and intangibles at the end of 2011 for Spain Company is as follows: buildings $1,100,000; accumulated depreciation-buildings $650,000; goodwill $410,000; coal mine $500,000; accumulated depletion-coal mine $108,000. Prepare a partial balance sheet of Spain Company for these items.
Do it! 9-4 Match the statement with the term most directly associated with it.
(a) Goodwill (d) Amortization
(b) Intangible assets (e) Franchise
(c) Research and development costs