The Ripkin Corporation was organized and began to operate on January 1, 2014, to manufacture and sell children's clothes. During 2014, the following expenditures were recorded in the company's goodwill account by an inexperienced data-entry clerk:

Goodwill

2014

January 2

Corporate registration legal fees

$5,000

January 2

Underwriter's fee for the issuance of common stock

7,500

January 2

Discount on bond issue

40,000

January 2

Cost of a major advertising campaign to promote the company's name and merchandise

75,000

January 14

Cost of employee training program

25,000

January 14

Excess of purchase price over market value of Mannekin's net identifiable assets paid in acquiring Mannekin Corporation

150,000

January 14

Cost of a patent purchased from a competitor with an expected life of ten years

25,000

July 1

Operating loss for first six months

45,000

July 1

Legal fees for the successful defense of patent acquired Jan. 14

10,000

December 20

Cost of Christmas party

12,000

Total

$394,500

a. What would a journal entry look like for Dec 31, 2014 that would reclassify the items from the goodwill account to the appropriate accounts?

b.What would adjusting entry or entries look like that would amortize the intangible assets using the straight-line method? Amoritization in nearest month?