截屏2022-12-03 下午5.49.54

Please donot provide solution in image format provide solution in step by step format provide fast solution

EXCEL CASE 1 Page 152 СРА skills On January 1, 2020, Innovus, Inc., acquired 100 percent of the common stock of ChipTech Company for $670,000 in cash and other fair- value consideration. ChipTech's fair value was allocated among its net assets as follows: $670,000 Fair value of consideration transferred for ChipTech Book value of ChipTech: Common stock and Additional Paid-In Capital (APIC) Retained earnings $130,000 370,000 500,000 Excess fair value over book value to 170,000 Trademark (10-year remaining life) $ 40,000 Existing technology (5-year remaining life) 80,000 120,000 Goodwill $ 50,000

eBook Amortization entries < Show Me How Kleen Company acquired patent rights on January 10 of Year 1 for $416,000. The patent has a useful life equal to its legal life of 8 years. On January 7 of Year 4, Kleen successfully defended the patent in a lawsuit at a cost of $21,000. A Determine the patent amortization expense for Year 4 ended December 31. Print Item b. Journalize the adjusting entry on December 31 of Year 4 to recognize the amortization. If an amount box does not require an entry, leave it blank. 00

Please don't provide answer in image format thank you

ANSWER LETTERS ABCD

9

Please don't provide answer in image format thank you

Please do not give solution in image format thanku

Project Scenario   Pecos Company acquired 100 percent of Suaro’s outstanding stock for $1,450,000 cash on January 1, 2017, when Suaro had the following balance sheet:   At the acquisition date, the fair values of each identifiable asset and liability that differed from book value were as follows: Land $ 80,000   Brand name 60,000   (indefinite life—unrecognized on Suaro’s books) Software 415,000   (2-year estimated remaining useful life) In-process R&D 300,000       Additional Information       Although at acquisition date Pecos expected future benefits from Suaro’s in-process research and development (R&D), by the end of 2017 it became clear that the research project was a failure with no future economic benefits.       During 2017, Suaro earns $75,000 and pays no dividends.       Selected amounts from Pecos and Suaro’s separate financial statements at December 31, 2018, are presented in the consolidated information worksheet. All consolidated worksheets are to be prepared as…

Recording Amortization Dovetail Technologies Company acquired patent rights on January 6, 20Y5, for $2,265,000. The patent has a useful life of 14 years. On January 7, 20Y6, Dovetail Technologies successfully defended the patent in a lawsuit at a cost of $283,125. a. Determine the patent amortization expense for the current year ended December 31, 20Y6, If required, round your answer to nearest whole value. b. Illustrate the effects on the accounts and financial statements to recognize the amortization. For decreases in accounts or outflows of cash, enter your answers as negative numbers. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. Round your final answer to the nearest whole dollar. Financial Statement Effects. Dec. 31. Assets) Statement of Cash Flows Balance Sheet " Liabilities + Stockholders' Equity Income Statement

ull touch 1:27 PM 50% Expert Q&A Done P Company purchased 80% of the outstanding common stock of S Company on January 2, 2011, for $350,000. And any difference between the value implied by the purchase price of the investment and the book value of net assets acquired relates to subsidiary land. The book values of S Company's other assets and liabilities are equal to their fair values. Balance sheets for P Company and S Company immediately after the stock acquisition were as follows: P Company $ 166,000 S Company $ 80,000 Current assets Investment in S Company Plant and equipment (net) 350,000 560,000 -0- 224,000 Land 40,000 $1,116,000 120,000 Total $424,000 Current liabilities Long-term notes payable Common stock $ 90,000 $ 28,000 -0- 46,000 480,000 150,000 Other contributed capita Retained earnings 244,000 64,000 302.000 $1,116,000 136.000 Total $424,000 The consolidated balance sheet for P and S Companies on the date of acquisition will include: * O Total Assets of $1,255,500 O Total…