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PLEASE SHOW THE WORK!!! Stuck on the second part Carla Vista Company, organized in 2016, has set up a single account for all intangible assets.
PLEASE SHOW THE WORK!!! Stuck on the second part
Carla Vista Company, organized in 2016, has set up a single account for all intangible assets. The following summary discloses the debit entries that have been recorded during 2017.
Exercise 120-6 (Part Level Submission Carla Vista Company, organized in 2016, has set up a single aucount for all intancible assets. The following surnmary dscluses the debit entries that have been recorded durinc 2017. 1/2/17 purchased patent (9-year life) $459,000 definite lif 7/1/17 Purchased franchise with 10-year life: expiration date 7/1/27 462,000 nt of copyright (5-ye 56,000 d developm 238,000 $1.675.300 (al) Your answer is correct. nd to set up separate accounts for distin types of intangibl (Credit account lilles are automatically indented when amount is entered. Do not in den manually. If no entry is required, select Prepar the neces ry to clear the Int gible Assets accoun No Entry" f ter 0 fi Patents 459.000 Goodwil 360.300 Franchises 462.000 Research and Developmenl 228.000 Copyrights 156,000 LIntandbe Assets 1.675.300Step by Step Solution
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