Kopke company organized in 2012 has these transactions, Ask an Expert

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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.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9956626

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