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4 In early January, Burger Mania acquired 100% of the common stock of the Crispy Taco restaurant chain. The purchase price allocation included the following
4 In early January, Burger Mania acquired 100% of the common stock of the Crispy Taco restaurant chain. The purchase price allocation included the following items: $4 million, patent: $3 million, trademark considered to have an indefinite useful life and $5 milion goodwill, Burger Mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value and a five-year service life. What is the total amount of amortization expense that would appear in Burger Mania's income statement for the first year ended December 31 related to these items? (Enter your answers in dollars, not in millions le should be entered as 5,000,000).) Boo Amortization References 5 Granite Stone Creamery sold ice cream equipment for $16,400. Granite Stone originally purchased the equipment for $91,000, and depreciation through the date of sale totaled $71,500. What was the goin or loss on the sale of the equipment? book Sale amount LOS Cost of the ion cream equipment Print Book value erences 6 Purchase price Salto Shipment of machine Insurance on the machine for the first 0.59 D 563.000 5.400 880 580 1760 your Installation of machine The machine, including sales tax.was purchased on count, with payment due in 30 days. The other expenditures loted above were ad in cash 10 19 Required Record the above expenditures for the new machine. Of ne entry loured for a transaction event "No journal entry required in the first account fed Journal entry worksheet
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