Prepare journal entries for 2016 for the following independent situations. Assume every group has a December 31st yr finish.Keepers Inc. purchases a patent for $225,000 on January 1st. Keepers estimates this patent to have a 5 yr helpful life.Blue Bat Company purchases one in every of their essential rivals on March 31. Blue Bat paid $160,000 for this buy which included property of $120,000 and liabilities of $10,000. The goodwill is believed to have an indefinite profit.

Published by
Essays
View all posts