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3 years ago

The intangible assets section of Marigold Corporation's balance sheet at December 31, 2022, is presented here.

Business

1 answer:

fredd [130]3 years ago

5 0

Answer:

Journal entries to record the 2023 amortization expense for intangible assets.

Date Accounts Titles and Explanation Debit Credit

Dec 31 Amortization Expense—Patents $14,180

($71,800*1/10 + $45,000 * 1/9

+ $40,000*1/10*6/12)

Patents $14,180

(To record amortization of patents)

Dec 31 Amortization Expense - Copyrights $6,335

($50,500*1/10 + $257,000*1/50*3/12)

(To record amortization of copyrights)

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Given that,

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Answer:

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$\left[\begin{array}{cccc}&Continued&Discontinued&Differential\\Sales&1,200,000&0&-1,200,000\\Variable&-640,000&0&640,000\\Allocate cost&-620,000&-620,000&0\\Result&-60,000&-620,000&-560,000\\\end{array}\right]$

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