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WEEK 2 SOLUTIONS Exercises E 10-5 & amp; E 10-7, raise up P 10-4 & P 10-11  Exercise 10-5 Organization range 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: contemplation interchange$11,000,000 slight sane treasure of net assets: take for value of net assets$7,800,000 Plus: reasonably value in excess of book value: Property, plant, and equipment 1,400,000 impalpable assets1,000,000 Less: earmark value in excess of fair value: Receivables (200,000) 10,000,000 thanksgiving$ 1,000,000 paradox 10-4 To class various expenditures wrongly charged to the impalpable asset account. Organization cost expense7,000 Prepaid insurance6,000 Copyright20,000 enquiry and study expense40,000 Patent ($3,000 + 12,000)15,000 Franchise40,000 Advertising expense16,000 intangible asset asset144,000 To reclassify arrive paid for St iltz Corp. wrongly charged to the intangible asset account.

Receivables100,000 Equipment350,000 Patent150,000 state of grace (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 next projects incorrectly charged to R&D expense. Equipment400,000 question and development expense400,000 To record depreciation on equipment used in R&D projects. $400,000 ÷ 5 years = $80,000 query and development expense80,000 Accumulated depreciation - equipment80,000 To c apitalize register and heavy fees for pate! nt incorrectly charged to R&D expense. Patent40,000 Research and development expense40,000 To reclassify the expenditures made for quality control...If you fatality to get a complete essay, order it on our website: OrderEssay.net

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