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Question - On September 30, 2020, Morgan, Inc., acquired all of the outstanding common stock of Pathways, Inc., for $100 million. In addition to tangible assets, Morgan recorded the following assets as a result of the acquisition:
Patent $6 million
Developed technology 3 million
In-process research & development 2 million
Goodwill 7 million
Morgan's policy is to amortize intangible assets using the straight-line method, no residual value and a six-year useful life.
Required - Record the journal entry to record amortization of the above intangible assets. Please provide explanation so that i understand how to do it along with solution.
April 15, 2018 Received $1,200 in cash and credit card receipts for room rentals for April 9 - 15, 2018. Record the transactions in the general journal
Gordon wear has $800000 in assets and $200000 of total debts. It reports the net income from project is $100000. What is the return on shareholder equity
China Imports, Inc., sold 18,000 units in May. Prepare the May income statement for China Imports, Inc., in the contribution margin format
ACCT20074 - Contemporary Accounting Theory - CQ University - Discuss the applicability (usefulness or limitations) of the theories you learned to explain
Question - The financial statements for Harold Corporation contained the following information: Sales revenue 75,000. How much was Harold net income
Based upon the following information, compute total assets, total liabilities, and total capital; in addition, determine whether all of the accounts are listed.
The estimated cost to complete the contract is $4,456,452. Prepare schedules to compute the amount of gross profit to be recognized for the year ended December
Assume a company's equipment carries a book value of $4,000 ($4,500 cost less $500 accumulated depreciation) and a fair value of $3,750, and that the $250.
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gourley clinic uses client-visits as its measure of activity. during august the clinic budgeted for 3500 client-visits
Feedback to avoid future occurrence of problems and customer disappointment. Describe how to do this using the 'feedback sandwich' technique.
Prepare the general journal entries on both companies books assuming that the exchange will not change future cash flows
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