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ACC - Barkley Corp. obtained a trade name in January 2009




Question;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


Paper#44218 | Written in 18-Jul-2015

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