Darrien Corporation purchased a trade name, customer list, and manufacturing equipment for a Jump sum of $800,000.

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Darrien Corporation purchased a trade name, customer list, and manufacturing equipment for a Jump sum of $800,000. The fair market values of each asset are $280,000, $290,000, and $320,000, respectively. There were initial operating losses of $14,500 during the first four months after the assets were put into use. Prepare the journal entry to record the treatment of these costs.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Intermediate Accounting

ISBN: 978-0176509736

10th Canadian Edition, Volume 1

Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,

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