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Team Assignment

In:

Submitted By nicolelocust
Words 1180
Pages 5
| |PROBLEM 12-1 | |

|Franchises |48,000 | |
|Prepaid Rent |24,000 | |
|Retained Earnings (Organization Costs of | | |
|$6,000 in 2009) |6,000 | |
|Retained Earnings ($16,000 – $6,000) |10,000 | |
|Patents ($84,000 + $12,650) |96,650 | |
|Research and Development Expense | | |
| ($75,000 + $160,000) |235,000 | |
|Goodwill |278,400 | |
| Intangible Assets | |698,050 |
| | | |
|Franchise Amortization Expense ($48,000 ÷ 8)

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