The following are selected 2014 transactions of Yosuke Corporation. | ||||||||
Jan. 1 Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite. | ||||||||
May 1 Purchased for $84000 a patent with an estimated useful life of 5 years and a legal life | ||||||||
of 20 years. | ||||||||
Instructions | ||||||||
Prepare necessary adjusting entries at December 31 to record amortization required by the | ||||||||
events above. |
- 10 years ago
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