Question
9.2 these are selected 2022 transactions for Windsor Company. Jan. 1 Purchased a copyright for $108,000. The copyright has a useful life of 6 years
9.2 these are selected 2022 transactions for Windsor Company.
Jan. 1 | Purchased a copyright for $108,000. The copyright has a useful life of 6 years and a remaining legal life of 30 years. | |
Mar. 1 | Purchased a patent with an estimated useful life of 4 years and a legal life of 20 years for $51,600. | |
Sept. 1 | Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite. |
Prepare all adjusting entries at December 31 to record amortization required by the events. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date | Account Titles and Explanation | Debit | Credit |
---|---|---|---|
Dec. 31 | enter an account title to record copyrights amortization on december 31 | enter a debit amount | enter a credit amount |
enter an account title to record copyrights amortization on december 31 | enter a debit amount | enter a credit amount | |
(To record copyrights amortization) | |||
Dec. 31 | enter an account title to record patent amortization on december 31 | enter a debit amount | enter a credit amount |
enter an account title to record patent amortization on december 31 | enter a debit amount | enter a credit amount | |
(To record patent amortization) | |||
Dec. 31 | enter an account title to record goodwill amortization on december 31 | enter a debit amount | enter a credit amount |
enter an account title to record goodwill amortization on december 31 | enter a debit amount | enter a credit amount | |
(To record goodwill amortization) |
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