{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-27T05:15:02-04:00", "answer_date": "2024-05-27 05:15:02", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1780191", "url": "\/study-help\/questions\/-1780191", "question_creation_date_js": "2024-05-27T05:15:02-04:00", "question_creation_date": "May 27, 2024 05:15 AM", "meta_title": "[Solved] On April 1 , a patent with an estimated u | SolutionInn", "meta_description": "Answer of - On April 1 , a patent with an estimated useful economic life of 1 2 years was acquired for $ 7 2 , 0 0 0 . In addition | SolutionInn", "meta_keywords": "april,1,patent,estimated,economic,life,2,years,acquired,$,7,addition", "question_title_h1": "On April 1 , a patent with an estimated useful economic life of 1 2 years was acquired for $ 7 2 , 0 0", "question_title": "On April 1 , a patent with an estimated useful economic life", "question_title_for_js_snippet": "On April 1 , a patent with an estimated useful economic life of 1 2 years was acquired for $ 7 2 , 0 0 0 In addition, on December 3 1 , it was estimated that goodwill of $ 6 0 , 5 0 0 was impaired Question Content Area a Record the acquisition of patent If an amount box does not require an entry, leave it blank April 1 Question Content Area b Journalize the adjusting entry on December 3 1 for the amortization of the patent rights Do not round intermediate calculations If an amount box does not require an entry, leave it blank Dec 3 1 Question Content Area c Journalize the adjusting entry on December 3 1 for the impaired goodwill If an amount box does not require an entry, leave it blank Dec 3 1", "question_description": "
On April <\/span>1<\/mn>,<\/mo><\/mrow><\/math> a patent with an estimated useful economic life of <\/span>1<\/mn>2<\/mn><\/mrow><\/math> years was acquired for $<\/span>7<\/mn>2<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn>.<\/mo><\/mrow><\/math> In addition, on December <\/span>3<\/mn>1<\/mn>,<\/mo><\/mrow><\/math> it was estimated that goodwill of $<\/span>6<\/mn>0<\/mn>,<\/mo>5<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> was impaired.<\/span> <\/div>
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Question Content Area<\/span><\/div>
a<\/span>.<\/mo><\/mrow><\/math> Record the acquisition of patent. If an amount box does not require an entry, leave it blank.<\/span> <\/div>
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April <\/span>1<\/mn><\/mrow><\/math> <\/span> <\/div>
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Question Content Area<\/span><\/div>
b<\/span>.<\/mo><\/mrow><\/math> Journalize the adjusting entry on December <\/span>3<\/mn>1<\/mn><\/mrow><\/math> for the amortization of the patent rights. Do not round intermediate calculations. If an amount box does not require an entry, leave it blank.<\/span> <\/div>
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Dec. <\/span>3<\/mn>1<\/mn><\/mrow><\/math> <\/span> <\/div>
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Question Content Area<\/span><\/div>
c<\/span>.<\/mo><\/mrow><\/math> Journalize the adjusting entry on December <\/span>3<\/mn>1<\/mn><\/mrow><\/math> for the impaired goodwill. If an amount box does not require an entry, leave it blank.<\/span> <\/div>
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Dec. <\/span>3<\/mn>1<\/mn><\/mrow><\/math> <\/div><\/span> <\/div><\/div>", "transcribed_text": "", "related_book": { "title": "Accounting", "isbn": "978-0324662962", "edition": "23rd Edition", "authors": "Jonathan E. Duchac, James M. Reeve, Carl S. Warren", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/46.jpg", "uri": "\/textbooks\/accounting-23rd-edition-46", "see_more_uri": "\/textbooks\/business-operations-management-crisis-management-3435" }, "free_related_book": { "isbn": "1602299811", "uri": "\/textbooks\/introduction-to-calculus-and-analytic-geometry-4th-edition-978-1602299818-152223", "name": "Introduction To Calculus And Analytic Geometry", "edition": "4th Edition" }, "question_posted": "2024-05-27 05:15:02", "see_more_questions_link": "\/study-help\/questions\/business-corporate-finance-2020-July-01", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/create-the-control-panel-interface-that-has-the-following-3-658135", "description": "Create the Control Panel interface that has the following 3 methods: public int warningLevel (); public String status (); public boolean isok (); Write 2 public static methods 1) Write a public...", "stars": 3 }, { "url": "\/the-tinsley-company-exchanged-land-that-it-had-been-holding", "description": "The Tinsley Company exchanged land that it had been holding for future plant expansion for a more suitable parcel located farther from residential areas. 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