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I need new and unique answers, please. (Use your own words, don't copy and paste), Please Use your keyboard (Don't use handwriting) Thank you... HW
I need new and unique answers, please. (Use your own words, don't copy and paste), Please Use your keyboard (Don't use handwriting) Thank you...
HW 5; At 1/1/2016 . At 1/1/2016 Ali Company Decided to make combination with Ahly company which its Balance Sheet as follow : Furniture 400000 300000 A/P N/P Capital Land Cars 700000 3000000 Inventory Cash 500000 500000 2000000 600000 4000000 4000000 If you know that: 1-Al Ahly Assets Evaluate as Follows: Furniture 250000, Land 400000, Cars 350000, Inventory 1400000 2-Use following data: - 31/12/2016 Goodwill Evaluate by $600000 31/12/2017Goodwill Evaluate by $720000 - 31/12/2018 Goodwill Evaluate by $800000 Required: 1- Journal 2- Impact on Financial Statements gible assets section of Redeker Company at December HW 7: The intangible assets 31, 2017, is presented below. Patent ($70,000 (570,000 cost less $7,000 amortization, 10 years) 63,000 chise ($48,000 cost less $19,200 amortization, 10 years) 28,800 Franchise ($48.0 following cash transactions may have affected intangible assets during 2018: tom. 1. Paid $45000 legal costs to successfully defend the patent against infringement by another company. Mar 1, Research and development costs 150000, Company sure about its ability to realize new product. May 1, Developed a new product, incurring $140,000, Company reached to patent was granted for the product on May 1. It's useful life is 5 years Jul 15, Goodwill purchased 250000 Sept. 1 Acquired a franchise for $100000. The franchise has a useful life of 20 years. Nov.12, Research and development costs $340000 Company does not sure about its ability to realize new product. If you know that: 4- All costs incurred were for cash. 5- Goodwill Market Value is $235000 6- Research and development estimated life 4 years. Required: 1- Journal 2- Impact on Financial StatementsStep by Step Solution
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