These are selected 2012 transactions for Jendusa Corporation
These are selected 2012 transactions for Jendusa Corporation:
Jan. 1 Purchased a copyright for $120,808. The copyright has a useful life of 8 years and a remaining legal life of 30 years.
May 1 Purchased a patent with an estimated useful life of 5 years and a legal life of 22 years for $57,540.
Sept.1 Purchased a small company and recorded goodwill of $154,900. Its useful life is indefinite.
Prepare all adjusting entries at December 31 to record amortization required by the events.