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Barkley Corp. obtained a trade name in January 2009, incurring legal costs of $15,000. The company amortizes the trade name over 8 years. Barkley successfully defends its trade name in January 2010, incurring $4,900 in legal fees. At the beginning of 2011, based on new marketing research, Barkley determines that the fair value of trade name is $12,000. Estimated total future cash flows from the trade name are $13,000 on January 4, 2011.
Instructions:
Prepare the necessary journal entries for the years ending December 31, 2009, 2010, and 2011. Show all computations.
contrast capital market research with behavioural research
The preparation of the Cash Flow statement is challenging and time consuming and unlike the other major financial statements, this one is not prepared from the adjusted trial balance.
The total equivalent units for direct materials and conversion are 38,000 liters and 40,000 liters, respectively. Determine the direct materials and conversion cost per equivalent unit. Round all answers to nearest cent.
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The bonds without the warrants would normally sell at 95. On March 1, 2010, the fair market value of Ruiz's common stock was $40 per share and the fair market value of the warrants was $2.00. What amount should Ruiz record on March 1, 2010 as paid..
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The following differences enter into the reconciliation of financial income and taxable income of Hatley Ltd for the year ended 31 December 2008, its first year of operation. The enacted income tax rate is 30% for all years.
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