Indicated which items on the list above would generally be reported as intangible assets in the balance sheet.
Indicate how, if at all, the items not reported as intangible assets would be reported in the financial statements
What amount should be reported in the balance sheet for the patent, net of accumulated amortization, at December 31, 2012?
Prepare the entry or entries needed to correct this account. Patent’s useful life is 12 years
Prepare the entry to record the purchase of Terrell Galleries on Graf’s books.
(a)What account should be charged for the $325,000, and how should it be shown in the financial statements?