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Match each item below (#1-12) with the proper accounting classification (a-f). a. Current Asset b. Intangible Asset with definite life c. Intangible Asset with
Match each item below (#1-12) with the proper accounting classification (a-f). a. Current Asset b. Intangible Asset with definite life c. Intangible Asset with indefinite life Item 1. Acquisition of R&D equipment for use on a current project only. 2. Goodwill generated internally 3. d. Property, Plant & Equipment e. Expensed as R&D f. Expensed as general & administrative (i.e. not R&D) Cost of purchasing a customer list with anticipated benefits of 4 years 4. Depreciation on R&D lab facility used for multiple, ongoing and new projects. 5. Filing fees and other legal costs incurred in obtaining a patent 6. Material, labor and overhead cost of building a prototype product 7. Startup and organization costs for a newly formed business 8. Legal costs incurred in successful defense of a tradename which is renewable every 10 years 9. Cost of supplies purchased for use on multiple R&D projects 10. Goodwill involved in the purchase of another company 11. Cost of a lab facility to be used on all future R&D projects 12. Cost of a fast food franchise with unlimited renewal options
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