Business, 18.03.2020 02:55 capo9972

The following information relates to the intangible assets of University Testing Services (UTS): a. On January 1, 2018, UTS completed the purchase of Heinrich Corporation for $3,510,000 in cash. The fair value of the net identifiable assets of Heinrich was $3,200,000. b. Included in the assets purchased from Heinrich was a patent valued at $82,250. The original legal life of the patent was 20 years; there are 12 years remaining, but UTS believes the patent will be useful for only seven more years. c. UTS acquired a franchise on July 1, 2018, by paying an initial franchise fee of $333,000. The contractual life of the franchise is 9 years. 1. Record amortization expense for the intangible assets at December 31, 2018. 2. Prepare the intangible asset section of the December 31, 2018, balance sheet.

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 23:30

Select the correct answer. joshua runs a large manufacturing business that is listed on the stock exchange. his company made good profits in the previous financial year. he now plans to reward his shareholders with handsome dividends. under which category of activities in the cash flow statement would the company’s accountants place this outflow of cash? a. investing activities b. operating activities c. financing activities d. non-operating activities

Answers: 3

Answer

Business, 22.06.2019 07:40

Alicia has a collision deductible of $500 and a bodily injury liability coverage limit of $50,000. she hits another driver and injures them severely. the case goes to trial and there is a verdict to compensate the injured person for $40,000 how much does she pay?

Answers: 1

Answer

Business, 22.06.2019 11:00

The following transactions occurred during july: received $1,000 cash for services provided to a customer during july. received $4,000 cash investment from bob johnson, the owner of the business received $850 from a customer in partial payment of his account receivable which arose from sales in june. provided services to a customer on credit, $475. borrowed $7,000 from the bank by signing a promissory note. received $1,350 cash from a customer for services to be rendered next year. what was the amount of revenue for july?

Answers: 1

Answer

Business, 22.06.2019 15:10

Paddock pools constructed a swimming pool and deck for the jensens' home. paddock installed the wrong trim on the pool. it would cost $2800 to change the trim-one-fifth of the total cost of the pool. the jensens refuse to pay anything for the pool. the paddock's best defense is: (a) duress (b) substanial performance (c)mistake (d) failure of conditions

Answers: 3

Answer

You know the right answer?

The following information relates to the intangible assets of University Testing Services (UTS): a....

Questions