HistoryBookmarksWindowHelpView)) 95% OTue 6:57 PMA edugen.wileyplus.commultiplymovement.com/english_multiply.pdfWileyPLUSWileyPLUS: MyWileyPLUS | Help I Contact Us | Log OutWeygandt, Accounting Principles, 13eFINANCIAL/MANAGERIAL ACCOUNTING (ACC 124/125/201/202)CALCULATORSTANDARD VIEWPRINTER VERSION1 BACKNEXT9/1/20Research and development costs185,000v (a1)Prepare the necessary entries to record these intangibles. All costs incurred were for cash. Make the adiusting entries as of December 31, 2020, recording any necessary amortization. (Creditaccount titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required,select "No Entry" for the account titles and enter 0 for the amounts.)DateAccount Titles and ExplanationDebitCreditSHOW LIST OF ACCOUNTSLINK TO TEXTG30 multiplymovement.com/english_multiply.pdfWileyPLUSWileyPLUS: MyWileyPLUS | Help I Contact Us | Log CWeygandt, Accounting Principles, 13eFINANCIAL/MANAGERIAL ACCOUNTING (ACC 124/125/201/20CALCULATORSTANDARD VIEWPRINTER VERSION1 BACKNEXTExercise 10-13 a1-a2 (Part Level Submission) (Video)Gill Company, organized in 2020, has the following transactions related to intangible assets.1/2/20Purchased patent (7-year life)$595,0004/1/20Goodwill purchased (indefinite life)360,0007/1/2010-year franchise480,0009/1/20Research and development costs185,000- (a1)Prepare the necessary entries to record these intangibles. All costs incurred were for cash. Make the adjusting entries as of December 31, 2020, recording any necessary amortization. (Creditaccount titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required,select "No Entry" for the account titles and enter 0 for the amounts.)DateAccount Titles and ExplanationDebitCredit30MacBook Air

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Exercise 10-13 a1-a2 (Part Level Submission) (Video) Gill Company, organized in 2020, has the following transactions related to intangible assets. 1/2/20 Purchased patent (7-year life) $595,000 4/1/20 Goodwill purchased (indefinite life) 360,000 7/1/20 10-year franchise 480,000 9/1/20 Research and development costs 185,000 v (a1) Prepare the necessary entries to record these intangibles. All costs incurred were for cash. Make the adjusting entries as of December 31, 2020, recording any necessary amortization. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Exercise 10-13 a1-a2 (Part Level Submission) (Video) Gill Company, organized in 2020, has the following transactions related to intangible assets. 1/2/20 Purchased patent (7-year life) $595,000 4/1/20 Goodwill purchased (indefinite life) 360,000 7/1/20 10-year franchise 480,000 9/1/20 Research and development costs 185,000 v (a1) Prepare the necessary entries to record these intangibles. All costs incurred were for cash. Make the adjusting entries as of December 31, 2020, recording any necessary amortization. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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CALCULATOR STANDARD VIEW PRINTER VERSION Gill Company, organized in 2020, has the following transactions related to intangible assets. 1 BACK NEXT ES 1/2/20 Purchased patent (7-year life) $595,000 4/1/20 Goodwill purchased (indefinite life) 360,000 7/1/20 10-year franchise 480,000 an) 9/1/20 Research and development costs 185,000 on) v (a1) Z Your answer is partially correct. Try again. udy Prepare the necessary entries to record these intangibles. All costs incurred were for cash, Make the adiusting entries as of December 31, 2020, recording any necessary amortization. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit 1/2/20 Patents 595,000 Cash 595,000 4/1/20 Goodwill 360,000 Cash 360,000 7/1/20 :Franchises 480,000 Cash 480,000…