申論題

一、You have been assigned to examine the financial statements of Zarle Company for the year ended December 31, 2019. You discover the following situations.

10. A trademark was acquired at the beginning of 2018 for $50,000. No amortization has been recorded since its acquisition. The maximum allowable amortization period is 10 years. Instructions (20%)  Assume the trial balance has been prepared but the books have not been closed for 2019. Assuming all amounts are material, prepare journal entries showing the adjustments that are required. (Ignore income tax considerations.)