Barkley Corp. obtained a trade name in January 2009, incurring (attached file) - 75010

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Greenday
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  • Posted on: Fri 19 Sep, 2014
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Request Description

 

Barkley Corp. obtained a trade name in January 2009, incurring legal costs of $15,000. The

company amortizes the trade name over 8 years. Barkley successfully defended its trade

name in January 2010, incurring $4,900 in legal fees. At the beginning of 2011, based on new

marketing research, Barkley determines that the fair value of the trade name is $12,000.

Estimated total future cash flows from the trade name are $13,000 on January 4, 2011.

Instructions

Prepare the necessary journal entries

 

Solution Description

 

Barkley Corp. obtained a trade name in January 2009, incurring legal costs of $15,000. The

Attachments
Barkley Corp. obtained a trade name in January 2009, incurring (attached file).doc
Barkley Corp. o...