Marin Ltd , follows IFRS and was organized in 2 0 2 2 Marin provided you with the following information Purchased a licence for $ 2 0 , 1 6 0 on July 1 , 2 0 2 2 The licence gives Marin exclusive rights to sell its services in the province and will expire on July 1 , 2 0 3 0 Purchased a patent on January 2 , 2 0 2 3 , for $ 4 3 , 2 0 0 It is estimated to have a 5 year life On April 1 , 2 0 2 3 , Marin purchased a small circuit board manufacturer for $ 3 7 5 , 0 0 0 Goodwill recorded in the transaction was $ 9 3 , 0 0 0 On July 1 , 2 0 2 3 , legal fees for the successful defense of the patent purchased on January 2 , 2 0 2 3 , were $ 1 1 , 8 8 0 Research and development costs incurred as of December 3 1 , 2 0 2 3 , were $ 7 7 , 0 0 0 Prepare the journal entries and any year end adjusting entry ( ies ) related to the patent during 2 0 2 3 ( Credit account titles are automatically indented when the amount is entered Do not indent manually If no entry is required, select No entry for the account titles and enter 0 for the amounts List all debit entries before credit entries Round answers to 0 decimal places, e g 5 , 1 2 5 ) Date Account Titles and Explanation Debit Credit Intangible Assets Patents Cash Intangible Assets Patents Cash Amortization Expense Intangible Assets Patents What is the amount to be reported for intangible assets on the SFP at December 3 1 , 2 0 2 3 ( Round answers to 0 decimal places, e g 5 , 1 2 5 ) Intangible assets Please answer according to the entry given in the question and answer the following thankyou

Question

Marin Ltd   , follows IFRS and was organized in 2 0 2 2   Marin provided you with the following information  Purchased a licence for $ 2 0 , 1 6 0 on July 1 , 2 0 2 2   The licence gives Marin exclusive rights to sell its services in the province and will expire on July 1 , 2 0 3 0   Purchased a patent on January 2 , 2 0 2 3 , for $ 4 3 , 2 0 0   It is estimated to have a 5   year life  On April 1 , 2 0 2 3 , Marin purchased a small circuit board manufacturer for $ 3 7 5 , 0 0 0   Goodwill recorded in the transaction was $ 9 3 , 0 0 0   On July 1 , 2 0 2 3 , legal fees for the successful defense of the patent purchased on January 2 , 2 0 2 3 , were $ 1 1 , 8 8 0   Research and development costs incurred as of December 3 1 , 2 0 2 3 , were $ 7 7 , 0 0 0   Prepare the journal entries and any year end adjusting entry ( ies ) related to the patent during 2 0 2 3   ( Credit account titles are automatically indented when the amount is entered  Do not indent manually  If no entry is required, select   No entry  for the account titles and enter 0 for the amounts  List all debit entries before credit entries  Round answers to 0 decimal places, e   g   5 , 1 2 5   ) Date Account Titles and Explanation Debit Credit Intangible Assets   Patents Cash Intangible Assets   Patents Cash Amortization Expense Intangible Assets   Patents What is the amount to be reported for intangible assets on the SFP at December 3 1 , 2 0 2 3   ( Round answers to 0 decimal places, e   g   5 , 1 2 5   ) Intangible assets Please answer according to the entry given in the question and answer the following thankyou

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Question

Marin Ltd . , follows IFRS and was organized in 2 0 2 2 . Marin provided you with the following information. Purchased a licence

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