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WEEK 2 SOLUTIONS Exercises E 10-5 & amp; E 10-7, stir up P 10-4 & P 10-11  Exercise 10-5 Organization translate spending ($12,000 + 3,000)15,000 Patent ($20,000 + 2,000)22,000 Pre-opening disbursals 40,000 Furniture30,000 Cash107,000 Exercise 10-7 tally of goodwill: comity exchange$11,000,000 slight sane treasure of net assets: deem value of net assets$7,800,000 Plus: reasonably value in excess of book value: Property, plant, and equipment 1,400,000 nonphysical assets1,000,000 Less: discussion value in excess of fair value: Receivables (200,000) 10,000,000 goodwill$ 1,000,000 line of work 10-4 To class various expenditures wrongly charged to the impalpable asset account. Organization cost expense7,000 Prepaid insurance6,000 Copyright20,000 enquiry and purify expense40,000 Patent ($3,000 + 12,000)15,000 Franchise40,000 Advertising expense16,000 intangible asset asset144,000 To reclassify join paid for Stiltz Corp . wrongly charged to the intangible asset account.

Receivables100,000 Equipment350,000 Patent150,000 blessing (determined below)120,000 Note payable220,000 Intangible asset500,000 Calculation of goodwill: Consideration exchanged$500,000 Less: Fair value of net assets(380,000) Goodwill$120,000 Problem 10-11 To trespass the cost of equipment to be used on hereafter projects incorrectly charged to R&D expense. Equipment400,000 explore and development expense400,000 To record depreciation on equipment used in R&D projects. $400,000 ÷ 5 years = $80,000 interrogation and development expense80,000 Accumulated depreciation - equipment80,000 To capi talize register and efficacious fees for p! atent incorrectly charged to R&D expense. Patent40,000 Research and development expense40,000 To reclassify the expenditures made for quality control...If you emergency to get a complete essay, order it on our website: OrderEssay.net

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