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Pinehurst Industries has the following account balances at 12/31/10: Amortization expense: $12,000 Goodwill: $200,000 Patent, net of $40,000 amortization: $80,000 Amortization of patent: $40,000 What amount should Pinehurst Industries report for intangible assets on the 12/31/10 balance sheet?

Pinehurst Industries has the following account balances at 12/31/10: Amortization expense: $12,000 Goodwill: $200,000 Patent, net of $40,000 amortization: $80,000 Amortization of patent: $40,000 What amount should Pinehurst Industries report for intangible assets on the 12/31/10 balance sheet?

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 6RE: Oz Corporation has the following assets at year-end: Patents (net), 26,000; Land, 50,000; Buildings,...
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Pinehurst industries has the following account balance... Please answer the financial accounting question

Pinehurst Industries has the following account balances at 12/31/10: Amortization expense: $12,000 Goodwill: $200,000 Patent, net of $40,000 amortization: $80,000 Amortization of patent: $40,000 What amount should Pinehurst Industries report for intangible assets on the 12/31/10 balance sheet?
Transcribed Image Text:Pinehurst Industries has the following account balances at 12/31/10: Amortization expense: $12,000 Goodwill: $200,000 Patent, net of $40,000 amortization: $80,000 Amortization of patent: $40,000 What amount should Pinehurst Industries report for intangible assets on the 12/31/10 balance sheet?
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