Transaction Advertising costs.. Purchase the net identifiable assets of Holden Corp... EastCo commenced operations early in...

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Transaction Advertising costs.. Purchase the net identifiable assets of Holden Corp... EastCo commenced operations early in 2014. A number of expenditures were made during 2014 that were debited to one account called intangible assets. A summary of the $893,000 balance in this account at the end of 2014 is as follows: Various Date Feb 20, 2014 Amount $18,000 500,000 Apr 9, 2014 15-year franchise agreement entered into with franchisor.. 90,000 Apr 15, 2014 Salaries of research staff.. 125,000 May 22, 2014 Jun 2, 2014 Consulting fees paid to a third party for advice on a research project... Copyright purchase. 22,000 30,000 Jun 12, 2014 The purchase cost of a franchise.. 90,000 Jun 30, 2014 Dec 30, 2014 Costs incurred in forming a corporation for purposes of commercializing a new product Fire insurance premium for three-year period... 9,000 9,000 Total... $893,000 The purchase price of the Holden Corp.'s net identifiable assets was debited to this account and were as follows: Receivables... Equipment Patents... Total assets. $140,000 370,000 170,000 680,000 Notes payable assumed (240,000) Fair value of net assets... $440,000 Transaction Advertising costs.. Purchase the net identifiable assets of Holden Corp... EastCo commenced operations early in 2014. A number of expenditures were made during 2014 that were debited to one account called intangible assets. A summary of the $893,000 balance in this account at the end of 2014 is as follows: Various Date Feb 20, 2014 Amount $18,000 500,000 Apr 9, 2014 15-year franchise agreement entered into with franchisor.. 90,000 Apr 15, 2014 Salaries of research staff.. 125,000 May 22, 2014 Jun 2, 2014 Consulting fees paid to a third party for advice on a research project... Copyright purchase. 22,000 30,000 Jun 12, 2014 The purchase cost of a franchise.. 90,000 Jun 30, 2014 Dec 30, 2014 Costs incurred in forming a corporation for purposes of commercializing a new product Fire insurance premium for three-year period... 9,000 9,000 Total... $893,000 The purchase price of the Holden Corp.'s net identifiable assets was debited to this account and were as follows: Receivables... Equipment Patents... Total assets. $140,000 370,000 170,000 680,000 Notes payable assumed (240,000) Fair value of net assets... $440,000