Question: The following are selected 2014 transactions of Yosuke Corporati

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 $84,000 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.


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  • CreatedDecember 29, 2012
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