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HW 6: The following are selected transactions of Zioud corporation during 2018: Feb. 1 purchased for $200000 a trademark with an estimated useful life of 20 years. July. 1 purchased a small company and recorded goodwill of $300000. Dec 31 Market Value for Goodwill is $330000 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 Statements. HW 8: The intangible assets section of Ali Company at Dec 31, 2016 presented below. Patent ($100,000 cost less $10,000 amortization, 10 years) $ 90.000 Copyright ($60,000 cost less $18,000 amortization, 8 years) 42,000 The following cash transactions may have affected intangible assets during 2017 Jan. 1 Paid $45,000 legal costs to successfully defend the patent against infringement by another company. July 1 Developed a new product, incurring $230,000, patent was granted for the product on July 1. It's useful life is 5 years. el Research and development Costs 50000 ability to realize new product, Research and de Costs 500000. Companys Research and development life 5 years 1 Acquired a copyright for $200,000. The copyright has a life of 50 years. Oct, 1 Goodwill purchased 450,000 Dec.l Research and development costs 175000. Company does not sure about its ability to realize new product If you know that: 1. All costs incurred were for cash. 2- Goodwill Market Value is $330000 3. Research and development estimated life 5 years. Dec 31, Goodwill Market Value is 235000 Required: 1- Journal 2- Impact on Financial Statements
