ACCT 551 help A Guide to career/uophelp.com ACCT 551 help A Guide to career/uophelp.com | Seite 21

Question 2.
Question :
(TCO C) Wriglee, Inc. went to court this
year and successfully defended its patent from infringement by a
competitor. The cost of this defense should be charged to
Question 3.
Question :
(TCO C) A loss on impairment of an
intangible asset is the difference between the asset’s
Question 4.
Question :
(TCO C) ELO Corporation purchased a
patent for $90,000 on September 1, 2008. It had a useful life of 10 years.
On January 1, 2010, ELO spent $22,000 to successfully defend the
patent in a lawsuit. ELO feels that as of that date, the remaining useful
life is 5 years. What amount should be reported for patent amortization
expense for 2010?
Question 5.
Question :
(TCO C) General Products Company
bought Special Products Division in 2010 and appropriately recorded
$500,000 of goodwill related to the purchase. On December 31, 2011,
the fair value of Special Products Division is $4,000,000 and it is carried
on General Products’ books for a total of $3,400,000, including the
goodwill. An analysis of Special Products Division’s assets indicates
that goodwill of $400,000 exists on December 31, 2011. What goodwill
impairment should be recognized by General Products in 2011?
Question 6.
Question :
(TCO D) Which of these is not included
in an employer's payroll tax expense?
Question 7.
Question :
(TCO D) Which of the following taxes
does not represent a payroll deduction a company may incur?