2 On December 31,2015 the Waddell Corporation acquired a custom made plant asset by issuing a promissory note with a face value of $800,000, a due date of December 31,2022, and a stated coupon rate of interest 4 More Information Interest is compounded annually and is payable at the end on each year The fair value of the customized asset is not readily determinable and the note receivable is not publicly traded Given the company's incremental borrowing rate and current market conditions, the imputed rate of interest for the note is estimated as 9 Record the journal entry for the purchase of the plant asset I have this so far Account Plant Asset Discount on Notes Payable Notes Payable 800,000 6 Einhorn Devices acquires Howard, a small start up company, by paying $2,170,600 in cash on January 2 Below are teh book values and fair values of Howard on the date of acquisition Howard Book Value Fair Value Cash $31,000 31,000 Receivables 100,700 100,300 Manufacturing Equipment 640,400 654,600 Patents (remaining life 8 years) 60,900 676,800 Trademarks 14,650 187,750 Payables 58,806 58,806 a What is amount of goodwill required b what intangible assets are required which of the intanibles have an indefinite life Which will be amoritized What will the amortization expense in the year after acquisition

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2. On December 31,2015 the Waddell Corporation acquired a custom-made plant asset by issuing a promissory note with a face value of $800,000, a due

2. On December 31,2015 the Waddell Corporation acquired a custom-made plant asset by issuing a promissory note with a face value of $800,000, a due date of December 31,2022, and a stated coupon rate of interest 4%.

More Information: Interest is compounded annually and is payable at the end on each year. The fair value of the customized asset is not readily determinable and the note receivable is not publicly traded. Given the company's incremental borrowing rate and current market conditions, the imputed rate of interest for the note is estimated as 9%.

Record the journal entry for the purchase of the plant asset.

I have this so far.

Account
Plant Asset	?
Discount on Notes Payable	?
Notes Payable		800,000

6. Einhorn Devices acquires Howard, a small start-up company, by paying $2,170,600 in cash on January 2. Below are teh book values and fair values of Howard on the date of acquisition.

Howard	Book Value	Fair Value
Cash	$31,000	31,000
Receivables	100,700	100,300
Manufacturing Equipment	640,400	654,600
Patents (remaining life 8 years)	60,900	676,800
Trademarks	14,650	187,750
Payables	58,806	58,806

a. What is amount of goodwill required?

b. what intangible assets are required? which of the intanibles have an indefinite life? Which will be amoritized? What will the amortization expense in the year after acquisition?