Intangible assets: These are the long-term assets having no physical existence. However, the benefits provided by these assets are used by the company for a long period of time. The intangible assets include patents, franchises, copyrights, trademarks, and goodwill . Cash Expenditures: Cash expenditure is the payment made to acquire or enhance the physical properties of a company. To record: The amount of cash expenditures.

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Chapter 7, Problem 7.5E

To determine

Intangible assets:

These are the long-term assets having no physical existence. However, the benefits provided by these assets are used by the company for a long period of time. The intangible assets include patents, franchises, copyrights, trademarks, and goodwill.

Cash Expenditures:

Cash expenditure is the payment made to acquire or enhance the physical properties of a company.

To record: The amount of cash expenditures.

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