Kopke company organized in 2012 has these transactions

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Kopke Company, organized in 2012, has these transactions related to intangible assets in that year:


Jan. 2 Purchased a patent (5-year life) $307,880.

Apr. 1 Goodwill purchased (indefinite life) $346,520.

July 1 Acquired a 9-year franchise; expiration date July 1, 2021, $546,300.

Sept. 1 Research and development costs $181,859.
(a) Prepare the necessary entries to record these intangibles. All costs incurred were for cash.

Reference no: EM13579049

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