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WEEK 2 SOLUTIONS Exercises E 10-5 & amp; E 10-7, nonplus P 10-4 & P 10-11  Exercise 10-5 Organization introduce spending ($12,000 + 3,000)15,000 Patent ($20,000 + 2,000)22,000 Pre-opening disbursals 40,000 Furniture30,000 Cash107,000 Exercise 10-7 tally of goodwill: context interchange$11,000,000 slight sane treasure of net assets: disc value of net assets$7,800,000 Plus: reasonably value in excess of book value: Property, plant, and equipment 1,400,000 impalpable assets1,000,000 Less: news value in excess of fair value: Receivables (200,000) 10,000,000 blessing$ 1,000,000 occupation 10-4 To class various expenditures wrongly charged to the impalpable asset account. Organization cost expense7,000 Prepaid insurance6,000 Copyright20,000 enquiry and rail expense40,000 Patent ($3,000 + 12,000)15,000 Franchise40,000 Advertising expense16,000 intangible asset asset144,000 To reclassify sum of money paid for Stiltz Co rp. wrongly charged to the intangible asset account. Receivables100,000 Equipment350,000 Patent150,000 state of grace (determined below)120,000 Note payable220,000 Intangible asset500,000 Calculation of goodwill: Consideration exchanged$500,000 Less: Fair value of net assets(380,000) Goodwill$120,000 Problem 10-11 To trespass the cost of equipment to be used on future day projects incorrectly charged to R&D expense. Equipment400,000 research and development expense400,000 To record depreciation on equipment used in R&D projects. $400,000 ÷ 5 years = $80,000 research and development expense80,000 Accumulated depreciation - equipment80,000 To capitalize register and sound fees for patent incorrectly charged to R&D expense. Patent40,000 Research and development expense40,000 To reclassify the expenditures made for quality control...If you demand to get a complete essay, order it on our website: OrderEssay.net

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