Answers
General Journal | Debit | Credit | ||
a | No Journal entry required | |||
b | Amortization expense | 4700 | =84600/9*6/12 | |
Patent | 4700 | |||
c | Amortization expense | 4700 | =206800/11*3/12 | |
Franchise | 4700 | |||
2 | ||||
Partial Balance Sheet | ||||
December 31,2021 | ||||
Intangible Assets: | ||||
Goodwill | 270000 | =1820000-1550000 | ||
Patent | 79900 | =84600-4700 | ||
Franchise | 202100 | =206800-4700 | ||
Total intangibles | 552000 |
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