On January 4, 2016, Franc Company purchased for $24,000 a patent that had been filed 8 years earlier. The patent covers a manufacturing process that…

Get perfect grades by consistently using www.college-experts.com. Place your order and get a quality paper today. Take advantage of our current 20% discount by using the coupon code GET20

Order a Similar Paper Order a Different Paper


111       Cash

121       Accounts Receivable

141       Inventory

152       Prepaid Insurance

181       Equipment

189       Accumulated Depreciation

191       Patent


211       Accounts Payable

231       Salaries Payable

250       Unearned Revenue

261       Income Taxes Payable


311       Common Stock

331       Retained Earnings


411       Sales Revenue


500       Cost of Goods Sold

511       Insurance Expense

512       Utilities Expense

521       Salaries Expense

532       Bad Debt Expense

533       Amortization Expense

540       Interest Expense

541       Depreciation Expense

559       Miscellaneous Expenses

910       Income Tax Expense

I have tried Misc expense and Amortization expense but it was incorrect.

For the 2017 Amortization amount, I tried $2000, but it was incorrect.


Jan. 4, 2016    Patent                              24,000.00

Cash                                        24,000.00

Dec. 31, 2016 Amortization Expense   2,000.00

Patent                                 2,000.00

Jan. 3, 2017            ?????                       11,000.00

Cash                                   11,000.00

Dec. 31, 2017  Amortization Expense  ?????

Patent                              ???????


Do you need help with this or a different assignment? We offer CONFIDENTIAL, ORIGINAL (Turnitin/LopesWrite/SafeAssign checks), and PRIVATE services using latest (within 5 years) peer-reviewed articles. Kindly click on ORDER NOW to receive an A++ paper from our masters- and PhD writers.

Get a 15% discount on your order using the following coupon code SAVE15

Order a Similar Paper Order a Different Paper