21 the type of intangible asset related to the rights of original music and media is 4306672

21 the type of intangible asset related to the rights of original music and media is 4306672

21) The type of intangible asset related to the rights of original music and media is known as a ________.

A) franchise

B) trademark

C) copyright

D) patent

22) On October 1, 2015, Nurix Inc. purchased a patent for $200,000 cash. Although the patent gives legal protection for 20 years, the patent is expected to be used for only 10 years. What will be the balance in the patent account on September 30, 2016?

A) $180,000

B) $200,000

C) $190,000

D) $100,000

23) On January 1, 2015, Server Solutions paid $200,000 to acquire Tabletz Inc., an electronic gadget-advertising website. At the time of the acquisition, Tabletz's balance sheet reported total assets of $200,000 and liabilities of $100,000. The fair market value of Tabletz's assets was $200,000. The fair market value of its liabilities was $100,000. At the end of 2018, they measured goodwill and found its fair value to be $60,000. Calculate and record the impairment of goodwill.

24) Server Solutions paid $200,000 to acquire Tabletz Inc., an electronic gadget-advertising website. At the time of the acquisition, Tabletz's balance sheet reported total assets of $200,000 and liabilities of $100,000. The fair market value of Tabletz's assets was $200,000. The fair market value of its liabilities was $100,000. Journalize the acquisition of Tabletz in the books of Server Solutions.

25) On October 1, 2015, Nurix Inc. purchased a patent for $100,000 cash. Although the patent gives legal protection for 20 years, it is expected to be used for only eight years. Journalize the purchase of the patent.

26) On October 1, 2015, Nurix Inc. purchased a patent for $100,000 cash. Although the patent gives legal protection for 20 years, it is expected to be used for only eight years. Journalize the amortization expense for 2015. Assume straight-line amortization.

27) On October 1, 2015, Nurix Inc. purchased a patent for $200,000 cash. Although the patent gives legal protection for 20 years, the patent is expected to be used for only 10 years. Journalize the amortization expense for 2015. Assume straight-line amortization.

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